MN: Menasha Packaging Investing $7M to Expand in Lakeville, Add Jobs
28 Aug, 2014
Wisconsin-based corrugated display and packaging manufacturer Menasha Packaging will create 15 jobs and invest $7 million in an expansion of its operations in Lakeville.
The Neenah, Wis., company said it plans to add about 126,000 square feet at its Lakeville manufacturing facility in the Airlake Industrial Park, 8085 220th St. W., where the company has operated since 1969.
The Minnesota Department of Employment and Economic Development (DEED) is assisting the company with the expansion by providing $422,520 from the Minnesota Job Creation Fund. Menasha Packaging will receive the funding once it has completed the expansion and added the jobs.
The Job Creation Fund, which was first proposed by Governor Mark Dayton to encourage job growth in Minnesota, will award $24 million in business incentives that were approved in the 2013 legislative session. Officials said the program is helping the state to compete for new jobs and businesses.
“This important expansion will create 15 new jobs and deliver a 16-to-1 return on the state’s investment,” said Governor Dayton. “I thank Menasha Packaging for its commitment to Minnesota, and congratulate the company and its employees on their continued success.”
“I want to thank Menasha Packaging for being a part of the Lakeville community for the past 45 years and for choosing the city for its latest expansion project,” said DEED Commissioner Katie Clark Sieben. “The company is growing rapidly and adding 15 good-paying jobs that will help the local economy.”
Menasha Packaging, which has been in business for 165 years and is one of the nation’s oldest companies, has over 2,700 employees at more than 30 facilities nationwide. The company specializes in graphic consumer packaging, merchandising, corrugated packaging, food packaging, shipping containers and material handling. The company is a subsidiary of Neenah-based Menasha Corp.
“Our priority continues to be to meet and exceed the needs of our broad customer base,” said Menasha Packaging Regional Vice President Greg Theis. “The expansion in Lakeville will support our growth, and I am extremely pleased with the assistance from DEED.”
The Minnesota Job Creation Fund is a new pay-for-performance program that provides up to $1 million to businesses after they meet certain criteria, including minimum requirements for job creation and private investments. Under the program, businesses must create at least 10 full-time jobs and invest at least $500,000 to be eligible for financial assistance.
The program is available to businesses engaged in manufacturing, warehousing, distribution, technology and other eligible activities. Companies must work with the local government (city, county or township) where a project is located to apply to DEED to receive designation as a Job Creation Fund business.
Since the Job Creation Fund was launched in January, DEED has awarded $12 million to 20 companies in Minnesota. Those companies have committed to creating more than 1,300 new jobs and investing $224.3 million to expand.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and our services, visit us at http://mn.gov/deed/ . Follow us on Twitter at twitter.com/mndeed .