DEED OKs grant for Pine River business
Cass County received notice from the Minnesota Department of Employment and Economic Development (DEED) that DEED has approved a $107,500 grant to be used as a business loan for the Ice Castle manufacturing business planning to expand into Pine River.
Jeffrey Drexler and David Handeland, owners of Northern Sales and Manufacturing, plan to expand their manufacturing business at Marshall to a second facility in the former Chrysler dealership building on the south end of Pine River on Highway 371.
The funds will be transferred to Cass County, then to Cass County Economic Development Corporation (CCEDC). CCEDC then will loan the money to Northern Sales and Manufacturing.
As the loan is repaid, CCEDC will retain 20 percent, to be used to develop a revolving business loan fund to be available to other future businesses. The remaining 80 percent will be repaid to the state.