Iron Range Manufacturers Position Themselves for Growth

IRRRB GAP Investment Helps
Pave the Way 

Expansion at Conveyor Belt Services, a Virginia-based producer of conveyor belting, will receive a significant boost from a collaboration between Iron Range Resources and Rehabilitation Board (IRRRB) and Enterprise Minnesota for consulting services.

As part of a $50,000 overall grant from IRRRB to Iron Range manufacturers, Conveyor Belt Services qualified for this matching grant that will be applied toward services from Enterprise Minnesota for plant layout, lean 5S simulation and a three-day rapid improvement event.

"We are very thankful for the IRRRB's support, are really excited about our expansion and looking forward to Enterprise Minnesota's assistance," says Bruce Mars, president of Conveyor Belt Services.

The IRRRB grant program helps Iron Range manufacturers use Enterprise Minnesota's services to boost company efficiencies and increase the ability to grow profitably. Companies are required to match the eligible IRRRB assistance on a dollar for dollar basis.

The partnership between IRRRB and Enterprise Minnesota is modeled after the highly successful statewide Growth Acceleration Program (GAP), which was authorized by the Minnesota State Legislature five years ago to encourage job creation and retention in the manufacturing sector. That program, also administered by Enterprise Minnesota, has helped nearly 200 Minnesota manufacturers realize a $30 and up to $40 return for every dollar spent invested. Program analysis suggests GAP has helped retain about 2000 jobs statewide.

"Like the statewide GAP program, the IRRRB GAP investment has been extremely successful in helping manufacturers in the Iron Range invest in themselves, which ultimately means they are creating and retaining jobs," says Bob Kill, Enterprise Minnesota CEO and president.

Since the launch of the IRRRB grant in January, twelve Iron Range-based companies have utilized $143,000 of Enterprise Minnesota services to implement a variety of business improvement needs. Minnesota Twist Drill, Chisholm, which manufactures high speed drill bits, received supervisor leadership skills development services. Aitkin Iron Works, Aitkin, which provides machining, welding and fabricating services, received strategy growth management services from Enterprise Minnesota.

"Manufacturers in Minnesota know to keep competitive and position themselves for growth, they need to develop and apply strategies which help them do that," Kill says. "Minnesota can be the envy of the nation for manufacturing and partnerships like the IRRRB funding are helping us get there."

Exporting in 2012: The Practices of Profitable Companies

Aug. 22, 2012
8-11 am
Mortenson Construction
700 Meadow Lane North, Minneapolis
Cost: $79 Early Bird (before Aug. 14); $110 Regular

Register Online

What to Expect: 

Exporting has great potential to grow a company's profitability. Find out what manufacturers are doing to create a proactive business strategy to sell internationally and how they are connecting with international business experts who help navigate the export process.

Speakers:
•    Joel Wittenbraker, President,
     Mactech, Red Wing   
•    Ross Anderson, Global Director of Operations, 
     Midwest Rubber, Plymouth   
•    Moses Koyabe, Vice President of Business
     Development, Ideal Aerosmith,
     East Grand Forks    
•    Roger Hurd, Business Growth Consultant, 
     Enterprise Minnesota

Register Online Today!

Have news or events for e-trends?  Contact Sue Roe at sue.roe@enterpriseminnesota.org