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Business and Industry

Taconite production, regional healthcare services, fabricating, electronics manufacturing and education lead a diverse economy in Hibbing. The region is equipped with a strong, highly dedicated workforce, a convenient location near major highways and a regional airport, and an exceptional infrastructure, complete with an extensive fiber optics network.

The incentives to doing business in Hibbing are unrivaled. The Hibbing Economic Development Authority (HEDA) provides development assistance for new and expanding businesses in the community. HEDA coordinates local, regional and state loans to help businesses with real estate, equipment or working capital needs. The organization also offers a Store Improvement Program that offers low-interest fixed rate loans for existing businesses.

Several industrial parks reside in Hibbing, many of which qualify for Job Opportunity Business Zones (JOBZ) designation (tax exempt zones, which offer property tax, sales tax and corporate income tax breaks). A new 30,000-square-foot Speculative Industrial Building is ready for build out to meet the needs of a new or expanding business with favorable terms available. In addition to this, the Hibbing Public Utilities Commission (HPUC) offers an Economic Development Incentive Rate for qualified new and existing businesses.

Hibbing businesses are also well-supported through various organizations, such as the strong and active Hibbing Area Chamber of Commerce, the City of Hibbing, HEDA, the Minnesota Workforce Center, local schools and others. In addition, Hibbing Community College offers career-oriented and technical instruction, general education and customized training programs, and also provides quality consulting and information services through its local office of the UMD Center for Economic Development Small Business Development Center.

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