Air Seeder Parts LLC has been given an $89,000 loan from Grand Forks’ Jobs Development Authority.
The loan, given at the JDA’s Sept. 7 meeting, will be used in conjunction with more than $165,000 kicked in by the Bank of North Dakota, to buy down interest on an $800,000 commercial loan the company took out to purchase and renovate a new location at 2949 27th Ave. N.
According to a city staff document, Air Seeder Parts has reached an agreement with an out-of-state wholesaler to expand its dealership network. The deal is expected to grow sales to the point where the company will exceed capacity at its current Gateway Drive location.
As a result of the expansion, the company is expected to add four full-time jobs. Air Seeder Parts manufacturers agricultural after-market parts, with a focus on Air Seeders.