TEAM Industries Plans $7.8 Million Expansion In Detroit Lakes, Minnesota
11/12/2014
The company said it will build a 22,500-square-foot addition at the factory, which specializes in high-pressure aluminum die castings. The $7.8 million expansion includes $2.3 million on the facility, and the remaining $5.5 million will be for equipment.
TEAM, which has been in business since 1967, specializes in making drivetrains, transmissions, axles and gears. The company employs more than 1,000 people in Minnesota at facilities in Audubon, Bagley, Cambridge, Detroit Lakes and Park Rapids. TEAM also has a manufacturing plant in Andrews, N.C. This summer, the company entered into a partnership with Oregon-based Brammo Inc. to create systems that enable ATVs, snowmobiles, buses, boats, motorcycles, and golf and utility vehicles to run on lithium-powered batteries.
As an incentive, Minnesota Department of Employment and Economic Development is assisting the company with the expansion with $174,900 from the Minnesota Job Creation Fund. The company will receive the funding after completing the addition.
“TEAM Industries has been producing reliable drivetrain technology and other manufactured components for nearly half a century,” said DEED Commissioner Katie Clark Sieben. “We’re proud to call them a Minnesota company and thank them for creating jobs in Detroit Lakes.”
Project Announcements
Daisy Brand Plans Boone, Iowa, Production Operations
04/22/2024
Canfor Expands Fulton, Alabama, Production Operations
04/22/2024
Tucker Door & Trim Plans Henrico County, Virginia, Operations
04/19/2024
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024