FIRM CONSIDERING TACONITE MINE IN NORTH CITES UPBEAT ECONOMIC DATA
June 3, 2011
The proposed Gogebic Taconite iron ore mine will generate approximately $1.4 billion in total state and local tax revenue over the expected 35-year life of the first phase of the mine, according to the Preliminary Tax Impact study recently completed by NorthStar Economics, Inc. — an consulting and research firm specializing in analysis of the Wisconsin economy.
The report, funded by Gogebic Taconite, said construction and operation of the proposed mine would create long-term direct and indirect tax revenues for local communities and the state.
If plans and permits are approved, the mine would be located about six miles west of Mellen in Ashland County. It would be situated on the south side of Highway 72, which runs between Hurley and Mellen.
"This Preliminary Tax Impact study clearly shows the extremely positive long-term economic benefit of the proposed mine," Bill Williams, president of Gogebic Taconite, said.
"The $1.4 billion in taxes generated by the mine will be an economic boost to both the Gogebic region and the state of Wisconsin for generations."
Actual News Story continued HERE
