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Statewide Economic And Fiscal Effects Of The Direct Reduction Of Iron Ore To Steel In Northeast Minnesota

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  • Maki, Wilbur R.

Abstract

The Minnesota Regional Development Simulation Laboratory (SIMLAB) was used to simulate statewide economic effects of three iron mining industry options--revitalization of the Lower Great Lakes states steel industry, gradual liquidation of this industry, and the direct reduction of iron ore to steel in Northeast Minnesota. Industry output, employment, and value added indicators for the 1970 and 1977 years are compared with corresponding economic indicators for the 1980-2000 projection period. Finally, mineral-related state tax revenue trends are presented. Changes in these trends which are associated with each of the three iron mining industry options are projected for the 1980-89 period.

Suggested Citation

  • Maki, Wilbur R., 1981. "Statewide Economic And Fiscal Effects Of The Direct Reduction Of Iron Ore To Steel In Northeast Minnesota," Staff Papers 13480, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:13480
    DOI: 10.22004/ag.econ.13480
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    File URL: https://ageconsearch.umn.edu/record/13480/files/21552.pdf
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    References listed on IDEAS

    as
    1. Edward K. Y. Chen, 1979. "The Patterns of Economic growth," Palgrave Macmillan Books, in: Hyper-growth in Asian Economies, chapter 3, pages 28-41, Palgrave Macmillan.
    2. Maki, Wilbur R. & Meagher, Patrick D. & Laulainen, Leonard A., Jr. & Chen, Mason, 1979. "Users' Guide To The Minnesota Regional Development Simulation Laboratory," Staff Papers 14011, University of Minnesota, Department of Applied Economics.
    3. Maki, Wilbur R., 1980. "Fiscal Effects Of Mineral-Related Industry In Minnesota," Staff Papers 14101, University of Minnesota, Department of Applied Economics.
    4. Maki, Wilbur R. & Meagher, Patrick D. & Laulainen, Leonard A., Jr., 1979. "Economic Effects Of Copper-Nickel Development In Northeast Minnesota," Staff Papers 13991, University of Minnesota, Department of Applied Economics.
    Full references (including those not matched with items on IDEAS)

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