The Minnesota Department of Employment and Economic Development (DEED) announced more than $762,000 for three business expansion projects across Minnesota. The projects are expected to create 55 jobs over the next three years and leverage more than $10.12 million in private investment.
“Minnesota has been consistently ranked as one of the best places in the country to establish and expand a business, no doubt in part because of the support offered through DEED programs like the Job Creation Fund and Minnesota Investment Fund,” said DEED Commissioner Matt Varilek. “In the communities where these businesses choose to expand, the job creation and private investment leveraged promote economic vitality and a high quality of life — efforts DEED is proud to champion.”
The Job Creation Fund (JCF) provides financing to new and expanding businesses that meet certain job creation and capital investment targets. The Minnesota Investment Fund (MIF) provides loans for capital equipment to help businesses add new workers and retain high-quality jobs, with a focus on industrial, manufacturing and technology-related industries.
Details on the projects below:
Aircorps Aviation LLC, Bemidji – JCF $175,000
Aircorps Aviation LLC, specializes in restoring, maintaining and rebuilding modern, vintage World War II and legacy aircraft, as well as other aerospace manufacturing and parts sales. The company will invest a total of $986,000 to expand and improve their current site in Bemidji. The project is expected to create 14 jobs within the first three years.
Broekema Beltway USA Inc., Pine City – JCF $167,500, MIF $200,000
Broekema Beltway USA Inc., manufactures advanced sieving conveyor belt systems and components, serving the agricultural and industrial sectors across both North and South America. The proposed project will establish a new manufacturing line at the current facility in Pine City, including new steel forging and upsetting capabilities, integration of robotics and automation of traditional manual processes, and other necessary equipment. The total project cost is $5.6 million and is expected to create 12 jobs within the first three years.
Marotta Controls, Inc., Chaska – MIF $220,000
Marotta Controls, Inc., designs, develops and manufactures innovative electronic and electro-mechanical systems and sub-systems for the aerospace, space and defense sectors. Motorfox, the electric motor manufacturing branch of Marotta based in Chaska, specifically designs, develops and produces mission-critical motors used at Marotta and by a wide range of other customers. The proposed project will upgrade the current facility to accommodate additional employees as well as enhance capabilities for motor, winding, design, analysis and testing. The total project cost is $4.2 million and is expected to create 29 new jobs within the next three years.