Medical device manufacturer Cardiovascular Systems Inc. plans to build a $30 million headquarters in New Brighton, Minnesota, and expand its workforce with 205 high-paying jobs within two years.
The company, which specializes in making devices for treating vascular and coronary diseases, said it will build a two-story, 125,000-square-foot building with office, research and development, and manufacturing space at the New Brighton Exchange, a 100-acre site at the northwest corner of Interstates 35W and 694.
Cardiovascular Systems currently employs 191 workers at its existing headquarters in New Brighton, about 2 miles south of the new site. The new headquarters building, which is expected to be completed next March, will have the capacity to accommodate 500 workers.
"This is great news for Minnesota,” said Governor Mark Dayton. "We are very pleased that Cardiovascular Systems Inc. has chosen New Brighton for its new headquarters. I thank CSI for this important expansion that will add 205 good-paying jobs to our state."
To assist the expansion, the Minnesota Department of Employment and Economic Development is awarding Cardiovascular Systems $2 million from the Minnesota Job Creation Fund, if the company meets its hiring and investment goals. The agency also is providing a $750,000 forgivable loan from its Minnesota Investment Fund.
“Cardiovascular Systems is a cutting-edge company that is making a difference in the lives of people with cardiovascular diseases,” said DEED Commissioner Katie Clark Sieben. “DEED is pleased to support their latest expansion, given CSI is an important and growing player in Minnesota’s highly successful medical device sector.”