Homark Homes Invests $6 Million To Expand Its Red Lake Falls, Minnesota, Manufacturing Plant
The employee-owned company said it plans to expand its product line to include multifamily modular housing. Homark, which started as a mobile home manufacturer in a former flax processing plant in Red Lake Falls, has built more than 36,000 homes since the 1960s, Minnesota Department of Employment and Economic Development officials said.
When the owners decided to sell the company, 46 Homark employees stepped forward and bought the business in 1991. The homes are built inside a climate-controlled production facility and shipped to destinations throughout the continental United States, Alaska and Canada. The company has been developing a niche in modular “man camps” and hotels for the expanding energy and mining industries in North Dakota and Canada.
To assist with the expansion, the Minnesota Department of Employment and Economic Development will award Homark $456,000 from the Minnesota Job Creation Fund if the company meets performance goals.
“Thanks to this new expansion, 19 hard-working Minnesotans will have jobs that pay, on average, $16 per hour,” said Governor Mark Dayton. “That is great news for northwestern Minnesota and great news for our state. I thank Homark Homes for their important expansion.”
“The Minnesota Job Creation Fund is making it possible for companies like Homark Homes to expand and add quality jobs in their communities,” said DEED Commissioner Katie Clark Sieben. “Homark has developed a successful business model in Red Lake Falls and is contributing to the city’s economic growth.”
The Minnesota Job Creation Fund is a new pay-for-performance program that provides up to $1 million to businesses after they meet certain criteria, including minimum requirements for job creation and private investments. Under the program, businesses must create at least 10 full-time jobs and invest at least $500,000 to be eligible for financial assistance.
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