Virginia-Eveleth Economic Development Authority
Services: Economic Development Authorities
Contact: Laura Rusich, Executive Director
Address: 327 1st St S , Virginia, MN 55792
The Virginia – Eveleth Economic Development Authority (VEEDA) is a partnership of two northern cities, Eveleth and Virginia. Together the Economic Development Authorities of both communities have platted the development of a 240 acre industrial park and are currently expanding the infrastructure of the park to include five (5) development sites ideal for businesses specializing in light industrial or manufacturing.
The Virginia – Eveleth Economic Development Authority was formed in November of 1994 so there would be an organization by which both the cities of Eveleth and Virginia could jointly and cooperatively facilitate economic development and redevelopment.
The Iron Range Resources agency was instrumental in the original planning process of and continues to be an active partner in supporting the economic development efforts of VEEDA.
The Virginia – Eveleth Economic Development Authority is currently constructing a 30,000 square foot facility in a Job Opportunity Building Zone (JOBZ), where tax incentives will help new and expanding companies reduce expenses and help sustain further growth for our area.
These state exemptions include: corporate franchise tax, income tax for operators or investors, Sales tax on goods and services provided, property tax on commercial and industrial improvements, a wind energy tax, and an employment tax credit for high paying jobs.
Virginia-Eveleth Economic Development Authority serves the Northland, Arrowhead, Duluth MN Superior WI MSA, and St. Louis county areas.