Minnesota’s iron mining industry not only has significant economic impact in the areas in which the iron is mined. The effects of Minnesota’s iron mining industry can be felt far and wide – on local, regional, national and even international levels.
The University of Minnesota Duluth completed a study on the Economic Impacts of Ferrous and Nonferrous Mining and found that Minnesota’s mining industry contributed more than 11,600 jobs, $1.0 billion in labor income, $2.1 billion in value-added spending, and more than $4.0 billion into the state’s economy.
Each iron ore mining job, which includes good pay, health and retirement benefits, generates an additional 1.8 jobs in other industries.
Mining operations purchase goods and services from other industries, including utilities, transportation and manufacturing.