$1.67 million from Job Creation Fund to help six businesses in Minnesota
The expansion projects aim to create nearly 300 new jobs.
The Minnesota Department of Employment and Economic Development said additional businesses in the state will benefit from Job Creation Fund awards.
In total, $1.67 million in awards will go to six Minnesota businesses, which are expanding or building new locations in Minnesota and are expected to create 297 new jobs over the next three to five years.
“I congratulate these six businesses on their expansion,” DEED Commissioner Steve Grove said in the announcement on Wednesday, April 28. “These public-private partnerships to expand jobs in Minnesota will continue to be a big part of our recovery.”
The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. Companies deemed eligible to participate may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements.
The Minnesota Investment Fund provides loans to companies that create and retain high-quality jobs with a focus on industrial, manufacturing and technology-related industries to increase the local and state tax base and improve the economic vitality for all Minnesotans.
DEED said the companies and project awarded include the following:
Bemidji Steel Company Inc., Hubbard County – $100,000
Bemidji Steel Company is a commercial metals wholesaler. The company will expand in Hubbard County with a new facility. The project is expected to create six new jobs within the next three years and was awarded $100,000 from the Job Creation Fund provided it meets the established criteria.
Johnson Powered Services LLC, Moorhead – $191,500
Johnson Powered Services is a design engineering and fabrication facility producing automated control systems for the ag industry. This project would move all operations to Moorhead and the total project cost is expected to be $1,060,000. The company expects to create 16 jobs with an average wage of $27.36 an hour over the next three years. The project was awarded $191,500 from the Job Creation Fund provided it meets the established criteria.
JunoPacific, Brooklyn Park – $840,000
JunoPacific is a contract manufacturing and engineering services provider for the medical device industry. This project consists of the construction of a new 250,000-square-foot facility in Brooklyn Park. The project is expected to create 105 new jobs over the next three years with an average wage of $21.44 an hour. JunoPacific was awarded $840,000 from the Job Creation Fund and $800,000 from the Minnesota Investment Fund provided it meets the programs’ established criteria.
Nu-Tek BioSciences, Austin – $175,000
Nu-Tek is a manufacturer of ingredients used in the development and manufacturing of pharmaceuticals. This funding will assist in the opening of their first manufacturing facility in Austin. The JCF funding will help create 19 high quality jobs over the next two years. Nu-Tek was awarded $175,000 from the Job Creation Fund and $325,000 from the Minnesota Investment Fund provided the company meets the programs’ established criteria.
Sportech, LLC, Elk River – $182,000
Sportech is a plastics thermoformer specializing in design, development, and manufacturing of Operator Environment products in the PowerSports and adjacent small vehicle markets. This project will expand their Elk River facility and create 85 new jobs over the next three years. The total project cost is just over $8 million, and the new jobs are expected to pay an average of $18.84 an hour. Sportech was awarded $182,000 from the Job Creation Fund provided it meets the established criteria.
TÜV SÜD America Inc., New Brighton – $190,000
This company is a testing, inspection and certification provider. This project would expand the existing New Brighton facility. Total project cost is more than $10 million and it is expected to create at least 10 high-quality tech jobs within the next three years. The project was awarded $190,000 from the Job Creation Fund provided it meets the established criteria.