Minnesota had 226 business expansion projects in 2018 – up from 187 the previous year, according to tracking by the Minnesota Department of Employment and Economic Development (DEED), based on publicly announced expansions.
While complete data is not available for all of the projects, these expansions represent at least 8,829 new jobs and 1,672 retained jobs. They also reflect new investment of at least $2.4 billion and over 7.5 million square feet.
“We love to see Minnesota businesses growing across the state and we’re committed to doing everything we can to assist them,” said Governor Tim Walz. “With these expansions, businesses are not only creating jobs, but also helping their communities thrive.”
The expansion projects were spread across the state and involved more than 40 industries, but manufacturing and computer-related industries saw particular growth.
Expansions weren’t limited to medium and large companies; small firms and startups also announced expansions – including finance and insurance-related technology startups such as Sezzle and ClickSWITCH – both of which announced plans in 2018 to double their staffs – as well as health care technology and medical device companies such as OmniTier, NovuHealth, Sansoro Health and Relievant Medsystems, which moved from California to Minnesota last year.
“Minnesota has one of the most diverse state economies in the country, and these business expansion projects reflect that,” said DEED Commissioner Steve Grove. “We want to invest in an economy that fosters innovation and allows the startups of today to become the Fortune 500s of tomorrow.”
Some of the projects listed received financial assistance from DEED through various programs including the Minnesota Job Creation Fund and Minnesota Investment Fund.
“The expansion incentive funds through the state were differentiators for Uponor’s recent growth and ability to create jobs in both Apple Valley and Hutchinson,” said Bill Gray, president of Uponor North America, an Apple Valley based pipe manufacturing company which has expanded 11 times in Minnesota since 1990.
“If it weren’t for these state resources, we may have considered expanding in another state or country,” Gray added.