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(NewsDakota.com) – The Jamestown Finance and Legal Committee on Tuesday approved the city’s part of ,000 in economic development funds that will go toward a feasibility study for a new business in the Spiritwood Energy Park.

Carbontec Energy Corporation is conducting a feasibility study about possibly building a plant that would smelt iron ore into pellets.

Jamestown mayor Katie Andersen says this is exactly what economic development funds were designed to be spent on.


Jamestown/Stutsman Development Corporation CEO Connie Ova says the project will go forward somewhere. The funds from the JSDC will be used as match funding for a grant from the Agriculture Products Utilization Commission. If the feasibility study comes back negative for Jamestown, the plant will likely be built in Minnesota, says Ova.

The expenditure of economic development funds was recommended earlier this month by the JSDC board.