Three Minnesota companies; Alexandria Extrusion Co. in Alexandria, Anderson-Crane Co. in Litchfield and P&F Machining Inc. in Otsego, plan to invest $12.1 million on expansion projects with Job Creation Fund grants.
To assist with the projects, the Minnesota Department of Employment and Economic Development approved the companies to receive grants totaling nearly $461,000 from the Job Creation Fund, contingent on meeting their hiring and investment commitments.
“Companies have invested more than $580 million on expansion projects in Minnesota since the Job Creation Fund was launched last year,” said DEED Commissioner Katie Clark Sieben. “This program has been a tremendous success, encouraging millions in economic development and the creation of more than 3,700 jobs in the state.”
Expansion projects approved for grants include;
The Alexandria-based Alexandria Extrusion Co., an aluminum extruder, plans to spend $4 million to build a 38,000-square-foot addition. The company expects to create 15 jobs. DEED approved the company for $170,000 from the Job Creation Fund.
Anderson-Crane Co. designs and manufactures bulk material handling equipment, including screw conveyors, screw feeders, bucket elevators, bins, drag conveyors, gates and hoppers. The company plans to build a $1.24 million manufacturing facility adjacent to an existing building in Litchfield. Anderson-Crane said it will create 13 jobs. DEED approved the company for $120,821 from the Job Creation Fund.
P&F Machining Inc., a custom precision manufacturer for the aerospace, medical, agriculture, heavy equipment and medical trial industries, plans to move its facilities from Dayton, Minnesota, to Otsego. The company said it will invest $6.84 million to build a 54,000-square-foot facility in Otsego. P&F will create 17 jobs. DEED approved the company for $170,000 from the Job Creation Fund.