MN: Rosemount Inc. Invests $71M for 400-Job Engineering, Manufacturing Plant
12 Jun, 2013
Rosemount Inc., a division of Emerson Process Management, announced it has selected the vacant ADC 2 building in Shakopee as the home of its new engineering and manufacturing plant.
“I am thrilled to welcome Rosemount to Shakopee and thank them for investing in our community,” Shakopee Mayor Brad Tabke said. “This project is a wonderful example the City’s commitment to economic development and our ongoing support of our business community.”
Rosemount Inc. announced last year its interest in the 60-acre ADC site. The site has been vacant since 2000 when ADC stopped construction on the building. Rosemount plans to invest $71 million to complete and equip the unfinished building. The finished project will result in an increased property tax base for the city.
In addition, Rosemount Inc. anticipates bringing hundreds of well-paying jobs to the area. The company estimates over the next five years, the new facility would create a total of 400 jobs with average annual salaries in the mid-$60,000s. Of those jobs, approximately 60 percent will be engineering and administrations; the balance will be production jobs. An economic impact study that was done by GreaterMSP, a regional development agency, estimates 15 to 30 percent of those employees will choose to live in Shakopee.
A number of entities have played a role in bringing this plant to Shakopee, including Emerson Process Management, Scott County, Independent School District 191, the State of Minnesota and the City of Shakopee.
“I want to thank all the local, regional and state governments and entities who have played instrumental roles in supporting this project,” Tabke said. “This is an economic development project that “This is an economic development project that will benefit the Greater MSP region for many years to come.”