City Council Votes to Give Forgivable Loan to Help Save Duluth Paper Mill
DULUTH, Minn. — The Duluth City Council unanimously voted to help keep the Verso Corporation’s paper mill in the city afloat amid its financial troubles.
With demand for paper products dropping, the Verso Corporation’s paper mill is edging toward an uncertain future.
Verso wants to convert its recycle mill so it can take scrap packaging and turn it into pulp that can then be used to make other paper products.
The project would cost $34.5 million.
City council committed $242,000 as a forgivable loan from its Grants and Awards Fund to aid in the funding the project.
The city also sent an application for Verso to receive a $2 million forgivable loan from the state.
240 workers have full-time jobs at the paper mill with an average salary of $63,000.