ADVERTISEMENT

ADVERTISEMENT

Minnesota DEED awards $4.3 million for business expansion

The projects are expected to leverage more than $30 million and create 321 jobs over the next three years.

ASV.jpg
ASV Manufacturing Warehouse in Grand Rapids, Minnesota.
Image: Courtesy of ASV via DEED
We are part of The Trust Project.

The Minnesota Department of Employment and Economic Development (DEED) said that funding has been awarded for five businesses through the Minnesota Job Creation Fund and the Minnesota Investment Fund.

These projects are expected to leverage more than $30 million and create 321 jobs over the next three years.

One of the businesses awarded funding is Dee Manufacturing in Crookston, Minnesota.

“In this tight labor market, employers are still hiring and looking to expand their businesses,” DEED Commissioner Steve Grove said in the news release announcing the funding. “The funding announced today will support expansion that helps grow the Minnesota economy for years to come and paves the way for future economic growth.”

The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. Eligible companies may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements.

ADVERTISEMENT

All projects also received an award from the Minnesota Investment Fund. DEED explains that 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 economic vitality for all Minnesotans.

The business and funding, according to the news release, includes the following:

ASV Holdings Inc., Grand Rapids – JCF $850,000, MIF $450,000

ASV Holdings was founded in a small garage in Marcel, Minnesota, by Edgar Hetteen and Gary Lemke in 1983 – and the company invented North America’s first Compact Track Loader. Today ASV is owned by Yanmar America and is an industry leader in the design, production and support of compact construction equipment.

This project involves expanding the Grand Rapids production facility by adding a roughly 60,000-square-foot high-bay warehouse along with new production equipment. The total projected expense is just over $9 million. This project is expected to create hundreds of jobs at all levels over the next few years, with the positions providing an average wage of $21.51 per hour.

In addition to DEED funding, this project will be awarded $1.35 million from the Iron Range Resources and Rehabilitation Board (IRRR).

Dee Manufacturing, Crookston – JCF $175,000

Dee Manufacturing is an aluminum foundry and machine shop that produces machined aluminum castings for several markets. The company was recently acquired by Wisconsin Aluminum foundry and is expanding as part of its acquisition.

ADVERTISEMENT

The project consists of expanding the facility in Crookston; it is expected to cost $1,600,000 and to create 30 jobs in the next three years, with an average wage of $19.40 an hour.

KAMP Automation LLC, Owatonna – JCF $800,000, MIF $140,000

Kamp Automation is a custom automated equipment manufacturer moving from Waseca to Owatonna. The proposed project will build a new 50,000-square-foot facility to house their engineering and administrative staff.

The total project is expected to cost $6.8 million and create 23 jobs with an average wage of $42.17 an hour over the next two years.

Lakeshirts LLC, Little Falls – MIF $450,000

Lakeshirts provides custom decorated apparel in the resort and collegiate market. The company was founded in Detroit Lakes, Minnesota, by Mark Fritz and Mike Hutchison in 1984 and they are looking to expand their satellite production facility in Little Falls.

This expansion is expected to create 78 new jobs.

Mypals Recycling, Rogers – JCF $450,000, MIF $1,000,000

ADVERTISEMENT

Myplas Recycling recycles flexible plastic films, creating plastic pellets used for manufacturing items made from recycled plastics. The company is looking to expand to Minnesota by leasing a 170,000-square-foot facility.

The total project is expected to cost $24 million and will create up to 90 jobs within the first year with an average wage of $24.25 an hour.

What to read next
The presentation by Magatte Wade, a visionary business leader with a passion for creating positive change in Africa, is scheduled for Wednesday, Nov. 30, at North Dakota State University. Guests may also attend virtually.
In addition to family medicine, lab and radiology services will be available at the 45th Street Clinic, which also will offer walk-in care seven days a week.
The PFA grants and loans help maintain and build waterways for future business and economic growth.
Prairie Business editor's note for November 2022.