Duluth paper mill loan forgiveness provisions modified

A new law modifies terms of a $2 million Minnesota Investment Fund loan to a Duluth

paper mill in response to the COVID-19 pandemic.

The loan’s original forgiveness provisions – included in the 2019 omnibus jobs law – require the paper mill to retain 200 full-time equivalent employees.

The new law would reduce that requirement to 150 employees. The paper mill will still be required to meet other performance goals and contractual obligations.

Sponsored by Rep. Liz Olson (DFL-Duluth) and Sen. Erik Simonson (DFL-Duluth), the law took effect retroactively to July 1, 2019.

HF4602*/SF4538/CH112

HF4602* / SF4538 / CH112