MN: 6 Minnesota Businesses Awarded $1.5M from Job Creation Fund
17 May, 2019
Business expansion projects in four Greater Minnesota communities and two metro locations will create more than 200 new jobs over the next three years. The Minnesota Department of Employment and Economic Development (DEED) is supporting these projects with grants totaling $1.5 million from the Job Creation Fund.
Awards were made to Alexandria Industries in Alexandria, MinMor Industries in Mora, Reprocessed Plastics in Garfield, Sage Electrochromics in Faribault, Carlson Wagonlit Travel (CWT) in Minnetonka, and McLaughlin Gormley King Co. in Brooklyn Park.
“My administration is working to foster economic growth for everyone in Minnesota,” said Governor Tim Walz. “For these six Minnesota cities – that means new jobs and investments in their local economies.”
“The Job Creation Fund is a critical tool for creating and retaining jobs in Minnesota,” said DEED Commissioner Steve Grove. “Tomorrow’s high quality jobs are created by today’s growing companies. It is critical that we connect with these growing companies and use the Job Creation Fund to ensure that Minnesota residents have the great jobs they need.”
The Job Creation Fund is a pay-for-performance program that provides funding to businesses after meeting certain criteria. To be eligible in the Twin Cities metro, businesses must create at least 10 full-time jobs and invest at least $500,000. Businesses located in Greater Minnesota, or those owned by 51 percent minority, veterans, women or persons with disability, must create at least five full time jobs and invest at least $250,000 to be eligible. Details on individual awards as follows:
Alexandria Industries, Alexandria $175,000
Alexandria Industries produces custom components using industry-leading technology and a skilled workforce. Utilizing aluminum extrusion, precision machining, and fabrication of ferrous and non-ferrous materials, the company makes components that go into products people see and use every day. It also makes heat dissipation components, plastic injection and foam molded products, and finished assemblies. The project will add a new extrusion press and handling system and create an additional 7,300 square feet of manufacturing space and 11,300 square feet of office space. The total project cost is $16,433,694. The company expects to create 14 jobs within the next three years with an average cash wage of $15.63 an hour.
MinMor Industries, Mora $175,000
MinMor Industries is a printing and packaging manufacturer and distributer that has been in operation for 30 years. The project consists of renovations to the existing facility. The total project cost is $579,000. The company expects to create 45 jobs within three years with an average wage of $15.09 an hour.
Reprocessed Plastics, Garfield $175,000
Reprocessed Plastics has been recycling waste into industrial products since 1991. The project will add a 13,000 square foot addition to allow for growth. The total project cost is expected to be $638,441. The company expects to create 20 jobs within the next three years.
Sage Electrochromics, Faribault $177,750
Sage Electrochromics is a manufacturer of electronically tinted glass for windows, skylights and curtain walls. The projects consists of expanding the company’s operations in Faribault. The total project cost is above $1,000,000 and is expected to create 16 jobs over the next three years at competitive wage rates.
CWT is a Business-to-Business-for-Employees (B2B4E) travel management and meeting & event company that services nearly 145 countries around the world. The total project cost is $9,250,000 and costs would cover renovations to an existing building. The company expects to create 75 jobs with three years at an average cash wage of $32.36 an hour.
McLaughlin Gormley King Company, Brooklyn Park, $425,000
McLaughlin Gormley King Company develops and manufactures high-quality insecticides for household, commercial and crop protection markets. This project consists of relocating its Golden Valley operations to Brooklyn Park. The move would consist of MGK acquiring an approximately 145,000 square foot facility to accommodate the company’s office, lab, and specific manufacturing functions. The total project cost is $13,950,000. MGK expects to create 37 jobs with an average cash wage of $33.91 an hour over the next three years.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development.
(c)2003-2019 Trade & Industry Development is a publication of Due North Media - a division of Due North Consulting, Inc.
Copyright 2001-2019, Due North Consulting, Inc. -- All rights reserved.
The material on this site is protected by United States copyright and other intellectual property laws and may not be reproduced, rewritten, distributed, re-disseminated, transmitted, cached, displayed, published, broadcast, directly or indirectly, in any medium without the prior written permission of Due North Consulting, Inc.