(St. Paul, MN) — A cannabis facility in northern Minnesota is getting a big loan from a state economic development agency.
Iron Range Resources and Rehabilitation announced yesterday that it will give $10 million to a Missouri-based company called HWY35. The money will go toward converting a former lumber mill in Grand Rapids into a state of the art cannabis growing operation and manufacturing facility. The company says the facility will create 400 jobs paying an average of $24 an hour.
The company is also trying to secure a $10 million loan from the state, as well as $2 million dollars in tax incentives from the City of Grand Rapids.
