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MN: Wagner SprayTech to Invest $15M for Otsego Distribution Center

31 Mar, 2016


Plymouth-based Wagner SprayTech announced plans to build a $15 million distribution facility in Otsego.

The company, which specializes in manufacturing and marketing paint sprayers, applicators and decorating products for the consumer and contractor markets, said it will build the 270,000-square-foot facility in the Gateway North Business Center, near Highway 101. 

 “Wagner SprayTech is growing thanks to an emphasis on innovative and quality products,” said DEED Commissioner Katie Clark Sieben. “This expansion will bring new jobs and investment to the Otsego area and help the company respond to increasing demand for its products.”

The Job Creation Fund, which was first proposed by Gov. Mark Dayton in 2013, is a pay-for-performance program that provides funding 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.

Since the Job Creation Fund was launched in January 2014, DEED has awarded $27.9 million for 59 business expansion projects in Minnesota. Companies have committed to creating 3,535 full-time jobs and investing $589.2 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 the DEED website (http://mn.gov/deed) or go to our Twitter account (http://twitter.com/mndeed).

The Minnesota Department of Employment and Economic Development (DEED) is supporting the expansion with a $180,000 grant from the Job Creation Fund. The company will receive the funding after meeting its investment and hiring commitments.

“Wagner SprayTech is growing thanks to an emphasis on innovative and quality products,” said DEED Commissioner Katie Clark Sieben. “This expansion will bring new jobs and investment to the Otsego area and help the company respond to increasing demand for its products.”

The Job Creation Fund, which was first proposed by Gov. Mark Dayton in 2013, is a pay-for-performance program that provides funding 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.

Since the Job Creation Fund was launched in January 2014, DEED has awarded $27.9 million for 59 business expansion projects in Minnesota. Companies have committed to creating 3,535 full-time jobs and investing $589.2 million to expand.
 

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