Cohasset OSB facility infrastructure one step closer

   St. Paul, MN - The Minnesota Department of Employment and Economic Development (DEED) has awarded $2,000,000 to the City of Cohasset to assist with the extension of water and sewer lines that will allow for the construction of the Huber Engineered Woods Oriented Strand Board (OSB) facility. The grant is on top of up to $30 million over 10 years approved by the legislature and $15 million approved by the Iron Range Resources and Rehabilitation Board (IRRB) earlier this year. 

   The funding was awarded from DEED’s Greater Minnesota Business Development Public Infrastructure Grant Program (BDPI) which was funded by the legislature last session. Under the program, DEED awards 50% of eligible capital costs for the qualifying public infrastructure projects. The Cohasset project will create 158 direct jobs and many more indirect jobs throughout Northern Minnesota. According to DEED, private Investment in the project will be $382,800,000 and the tax base increase is estimated to be $58.6 million.