The first round of incentive grants under the Minnesota Job Creation Fund will see the North Star State invest a total of $2.27 million in expansion projects estimated to create 240 jobs.
“Minnesota employers have added almost 150,000 jobs during the last three years,” said Governor Mark Dayton. “But we still have more work to do to continue our state’s economic growth, and create more good-paying jobs for Minnesotans. The investments we are making today through the Job Creation Fund will create hundreds of jobs in communities throughout Minnesota.”
According to the Minnesota Department of Employment and Economic Development companies approved for funding include:
Axis Clinicals, a subsidiary of an Indian-based clinical trial company, which plans to locate to a new facility in Dilworth, Minnesota. The company has plans to create up to 100 new full-time permanent jobs and will invest approximately $12 million in the first phase of the project. The company will receive up to $779,988 from the Minnesota Job Creation Fund.
Bluegrass Proteins, which plans to expand its Dawson, Minnesota, facility located in La Qui Parle County. The company plans to create 56 new full-time, permanent jobs and invest about $18.2 million in a facility that will dry whey to produce proteins and permeates as a food additive. The company will receive up to $650,000 from the Minnesota Job Creation Fund.
Harmony Enterprises, a firm that provides worldwide waste management and recycling solutions through manufacture of waste compactors and recycling balers. The company will expand its current operations in Harmony, Minnesota, adding 14 full-time, permanent jobs and investing about $1.1 million. The company will receive up to $215,000 from the Minnesota Job Creation Fund.
Heraeus Medical Components, located in White Bear Township, the company manufactures and sells components used in the manufacture of medical devices. The company serves international, national and local markets. The business intends to expand at its current location in White Bear Township and create 55 jobs and invest about $7.8 million. The company will receive up to $498,100 from the Minnesota Job Creation Fund.
Valmont Industries, located in Farmington, Minnesota,the company is a manufacturer of aluminum poles and arms. It also has operations centers in Indiana and Canada. Due to an increase in demand, the company is expanding with plans to create 15 full-time, permanent jobs and invest about $1.1 million. The company will receive up to $129,000 from the Minnesota Job Creation Fund.
“The new Minnesota Job Creation Fund launched January 1st, 2014 is already attracting companies headquartered outside our state and country, as well as Minnesota businesses, to expand and grow in Minnesota,” said DEED Commissioner Katie Clark Sieben. “This pay-for-performance program is working statewide and allows Minnesota to compete for the most attractive business expansions that add high quality jobs to the state's economy.”