Minnesota Provides Business Expansion Incentives to Five Companies
“The Job Creation Fund is a critical tool for Minnesota businesses looking to expand, innovate and grow,” said DEED Commissioner Steve Grove, “These expansion projects, and the new jobs that come with them, will continue to support the economy of these local communities and the entire state.”
The Job Creation Fund is a pay-for-performance program that provides funding to businesses after meeting certain criteria. To be eligible in the Twin Cities metro, businesses must create at least 10 full-time jobs and invest at least $500,000. Businesses located in Greater Minnesota, or those owned by 51 percent minority, veterans, women or persons with disability, must create at least 5 full-time jobs and invest at least $250,000 to be eligible.
During the latest round of funding Cantel Medical Corp. in Plymouth received $675,000. Cantel Medical Corp is a leading provider of infection prevention and control products and services in the healthcare market. This project would renovate the company’s Plymouth facility to add a 20,000 square-foot innovation and training center and a 7,500 square foot research and development testing center. The total project cost is $4,500,000. The company expects to create 101 jobs within three years with an average wage of $28.21 an hour.
In Brooklyn Park, NAPCO International, Inc. received $110,000. NAPCO is NorcaTec’s military land vehicle division and is a manufacturer and distributor of military and aerospace spare parts. The total project cost is expected to be $1,678,072. The project is expected to create 18 jobs with three years with an average wage of $24.36 an hour.
In Lakeville, QA1 Precision Products, Inc., received $350,000 QA1 Offers an extensive line of American made shock absorbers, driveshafts, and accessories. The project consists of expanding its presence into Lakeville. The project is expected to create 30 jobs within three years.
In Cottage Grove, Up North Plastics Inc. received $177,000. Up North Plastics Inc. is a plastics manufacturer. This project would consist of the construction of a new 421,000-square-foot facility next to the company’s existing facility in Cottage Grove. The total project cost is $101,500,000. The company expects to create 200 new jobs within two years.
In Ramsey, Vision Ease received $450,000. Vision Ease is a leading manufacturer of ophthalmic lenses through superior technological ingenuity. This project would bring a large Rx manufacturing site into the existing Vision Ease facility. The total project cost is expected to be $23 million. The company expects to create 200 new jobs within 3 years.
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