MN: PERBIX Moving to Brooklyn Park, Adding Jobs
1 Aug, 2014
Manufacturing and engineering services provider PERBIX announced plans today to move operations to Brooklyn Park and create 12 new jobs.
The company said it will invest $1.1 million on tenant improvements to a leased building that will serve as its headquarters and general operations. About 75 employees at the company’s existing operations in Golden Valley will move to the new site in the North Cross Business Park at Highways 610 and 169. The new jobs will be created within three years.
“We are very excited to consolidate all of PERBIX's operations into a single, world-class facility. The increased square footage, optimized layout and new location positions PERBIX well to achieve its planned growth,” said Jim Dudley, PERBIX president and owner.
To help with the expansion, the Minnesota Department of Employment and Economic Development (DEED) awarded the company $139,000 from the Minnesota Job Creation Fund. PERBIX 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.
“The Minnesota Job Creation Fund is adding fuel to the state’s growing economy and helping businesses like PERBIX grow,” said Governor Dayton. “I congratulate PERBIX on its expansion and thank the company for its commitment to Minnesota.”
PERBIX, which was founded in 1976 as Perbix Machine Co., provides a variety of manufacturing and engineering services, including design and fabrication of automation systems, build-to-print equipment, custom machining of components and contract manufacturing. The company, which also has a support office in San Juan, Puerto Rico, serves a variety of sectors, including medical, government, aerospace, food and beverage, semiconductor and defense.
“For nearly 40 years, PERBIX has been successfully growing their business in Minnesota,” said DEED Commissioner Katie Clark Sieben. “We congratulate them on their new headquarters and thank them for their continued commitment to creating new jobs in Minnesota.”
Nick Peterson, a commercial real estate broker with Wellington Management Inc., assisted PERBIX in their site selection and subsequent negotiations.
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 $10.5 million to 17 companies in Minnesota. Those companies have committed to creating nearly 1,200 new jobs and investing $195.3 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 .