The Minnesota Department of Employment and Economic Development (DEED) has awarded $1.64 million in grants to assist JunoPacific with its expansion in Brooklyn Park.
JunoPacific is a contract manufacturing and engineering services provider for the medical device industry. Its parent organization, Cretex Companies, has been a significant employer in the St. Paul and Minneapolis business community for decades.
“JunoPacific’s choice to grow in the state of Minnesota sends a clear message that our state continues to thrive in the face of challenging economic times,” said Governor Tim Walz. “I congratulate JunoPacific on their expansion, and I look forward to our continued partnership.”
This expansion is expected to create 136 new jobs over the next five years, with an average wage of $21.44 an hour. The project would consist of construction of a new 250,000-square-foot facility in Brooklyn Park, and the total project cost is expected to be $38.4 million.
“Congratulations to JunoPacific and Brooklyn Park on their new expansion,” said DEED Commissioner Steve Grove. “This expansion proves that growth is happening in the Minnesota economy and that we are open to business.”
“This state-of-the-art facility will allow for the expansion of our new technology and engineering investments while also eliminating the constraints to our existing production,” said Pete Herman, president of JunoPacific, who is helping to lead this project.
This project was awarded $840,000 from the Job Creation Fund and $800,000 from the Minnesota Investment Fund.
“Brooklyn Park is a thriving business community with local, national and global companies driving some of the fastest business growth in Minnesota,” said Mayor Pro Tempore Tonja West-Hafner. “JunoPacific will add 136 jobs in the next five years, contributing to Brooklyn Park’s growing economy. Having access to quality businesses and good jobs is just another reason Brooklyn Park continues to be a thriving community.”
The Minnesota Investment Fund provides loans to companies that create and retain high-quality jobs with a focus on industrial, manufacturing and technology-related industries to increase the local and state tax base and improve the economic vitality for all Minnesotans.
The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. Companies deemed eligible to participate may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements.