Cloquet to help finance Upper Lakes Foods expansion

Cloquet to help finance Upper Lakes Foods expansion

CLOQUET The city is granting one of the largest private local employers a subsidy to assist in a 7,000-square-foot addition expected to create 11 new jobs. The Cloquet City Council on Nov. 21 unanimously signed off on a development program and tax increment financing plan for food distributor Upper Lakes Foods. Tax-increment financing explained Commonly referred to as TIF, this method of real estate financing is used by local governments for…