Hibbing Economic Development Authority Regular Meeting Agenda May 2026
HEDA expanded prior loan support for AMGS
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Description
HEDA previously extended and expanded a loan to Advanced Machine Guarding Solutions Inc. from $188,000 to $250,000 as part of a broader subsidy package. The assistance also included deferred principal payments and rent deferral on a new facility to support the company’s growth in Hibbing.
Contract Details
Contract Amount
Originally $188,000, expanded to $250,000
Vendor
ADVANCED MACHINE GUARDING SOLUTIONS INC
Agency
THE HRA OF HIBBING, MINNESOTA, MN
Contract Type
FINANCIAL_SERVICES
Document Date
May 4, 2026
Renewal Date
2026-07-01
Renewal Info
Existing loan expanded from $188,000 to $250,000; principal payments deferred June 1–December 1, 2025, and rent on the new facility deferred until July 2026.
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