Serving the Iron Range and northeastern Minnesota

Taconite Economic Development Fund

In 1992, the Minnesota Legislature established the Taconite Economic Development Fund (TEDF) to encourage capital investments in northeast Minnesota taconite plants. From 1993 through 2007, the TEDF program has reinvested more than $120 million back into northeast Minnesota taconite plants for new equipment, facility improvements, and research and development in new mining technologies. These dollars leverage additional investments by the taconite producers. The taconite producers recieve 30.1 cents for every ton of taconite they produce and must match it with a minimum of 7.35 cents per ton for an approved project. This rebate, commonly referred to as the investment tax credit, was made permanent by the 2001 Legislature.

Taconite Economic Development Fund updates are pending.  Please check back for updates to the Fund Guidelines, as well as Fund Request and Requirement forms.