Twin Cities Schools Gobble Up Most of the Mining Revenue
A recent article in the Mesabi Daily News describes how schools in the Twin Cities receive most of the money generated from the Permanent School Fund (PSF). Mining is the leading source of funding for the PSF, which was established in 1858 to provide financial resources to Minnesota Schools.
Here are a few excerpts from the article below:
“Over the past 10 years, the fund has paid $260 million to 337 public school districts across the state.”
“Northeastern Minnesota mining generates nearly all of money that goes into the fund’s corpus.”
“However, by state law, a majority of the proceeds go to large enrollment school districts, a vast majority which are outside northeastern Minnesota.”
“Of $31 million distributed in 2017, 52% went to metropolitan area school districts, according to Aaron Vande Linde, director of Minnesota School Trust Lands.”
“The Mountain Iron-Buhl public school district, home to Minntac Mine, in 2017 received $17,831.26 in PSF money to support the district and its 501 students, according to the Minnesota Office of School Trust Lands.
“On the flip side of the coin, the Rosemount-Eagan-Apple Valley public school district in 2017 received $974,862.29 for 27,525 students.”
“If Twin Metals develops its copper, nickel, platinum, palladium, gold and silver mine between Babbitt and Ely, the project would produce an estimated $3 billion for the PSF.”
It’s no wonder that Iron Range residents who support more mining opportunities are frustrated with Twin Cities residents who oppose it.
The large school districts in the metro area receive most of the benefits made possible by mining, yet anti-mining liberals in the Twin Cities want to deny Iron Rangers the opportunity for family-supporting mining jobs.
Perhaps the legislature should seek to revise the funding mechanism for the PSF to allow more of the money generated by mining to remain in Northeastern Minnesota. Why should Twin Cities liberals get to benefit from an industry they don’t support?