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SkySkopes receives MAGIC Fund loan

SkySkopes was awarded a $375,100 forgivable MAGIC Loan by the Minot City Council Monday.

The council voted 13-0 to approve the loan to acquire a drone and other equipment to be used in the Grand Forks’ company’s new Minot office, which will serve as a base for business in the Bakken region. The loan would be gradually forgiven if the company meets investment and employment goals.

The project is projected to generate at least $2,307,856 in capital investments, create at least 15 new full-time jobs in three years and help attract additional activity in unmanned aviation systems to Minot through Minot Area Development Corp.’s new MAGIC Sky Initiative.

In late December, SkySkopes announced the opening of the Minot office. In February, SkySkopes was nationally recognized and hand-picked as one of the top three UAS companies to service the oil and gas industry.4

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