Hibbing & Iron Range Economy (Hills: bankruptcy, salary, stores)

[Isaysos]

I know that the economy and population in the Iron Range area have been on the slide for that last few decades. Even the state demographers office has it still declining in their 2006 estimates. Is there any indication that the economy is turning around and people are moving back. I dont plan on moving there but Ive always been curious about that area.

[JameeLynn25]

My mom and dad are from the Range area and to be honest there isnt much to offer there for work unless your a doctor or want to work in the mines.

[Isaysos]

Originally Posted by Isaysos

I know that the economy and population in the Iron Range area have been on the slide for that last few decades. Even the state demographers office has it still declining in their 2006 estimates. Is there any indication that the economy is turning around and people are moving back. I dont plan on moving there but Ive always been curious about that area.

Im writting Hibbing, MN on my post so hopefully it will show up on the Hibbing forum.

[Isaysos]

Well, with the fact that the population went from 21,000 in 1980 to 16,500 today and hearing that the mining industry, which I believe is a major employeer in Hibbing was in decline, indicated that there is some kind of decline going on in the past decades, but may not necessarily be the case now. If this is not the case, could you please explain why there is such a dip? Is it just commercial activity thats expanding or is the basic sector also expanding?

[Minnehahapolitan]

I know the economy on the Range has been hurting, and I do not claim to know how badly. The opening of a Lowe's however, does not indicate economic gorwth let alone sustainability. Lowe's and Walgreens will open when enough people are located in one place, weather it is Beverly Hills or Pine Ridge. An interested party would actually ask Northwest why they took millions in state dollars in the promise that they would create new jobs there, and turn around a few years later in bankruptcy and gave Doug Steeland "[a] salary, reported at $516,384 dollars ... a total compensation package of more than $26.6 million in stock. ...$5.8 million in stock options and $20.8 million worth of restricted stocks that will vest over the next four years....after a 1.4billion dollar cut in labor expenses" talk about economics

[Isaysos]

Yes, according to the U.S. census bureau, the population of Hibbing a few decades ago was over 21,000. The newest 2006 estimates put it at 16,200 now, which continues to indicate population decline. Estimates are estimates however. There are many towns that continue to lose populaiton, but get big box stores to open. Perhaps, it does indicate things are turning around though. I was just hoping someone more familiar with the area could give some insight, but Im glad to hear that the commercial sector of town is expanding.