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ST. PAUL, MN - Governor Tim Walz today announced more than $10.5 million for seven business expansion projects in the state. The projects are expected to support 755 jobs and leverage more than $86 million in outside investment.
“Investments in business expansion support innovation, drive business growth, and create good-paying jobs,” said Governor Walz. “The expansion of these seven businesses will help Minnesota communities prosper and keep our economy strong.”
“Minnesota is a top state for business in part because of effective partnerships between state government and the private sector,” said DEED Commissioner Matt Varilek. “Minnesota’s economy is in a strong place as we end the year and DEED will remain heavily focused on supporting business expansion and job creation in support of thriving local economies around the state.”
The Job Creation Fund (JCF) provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. Eligible companies may receive up to $2 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements.
The Minnesota Investment Fund (MIF) provides financing to help add new workers and retain high-quality jobs - with a focus on industrial, manufacturing, and technology-related industries - increasing the local and state tax base and improving Minnesota's economic vitality. Funds are awarded to local units of government, which provide loans to assist expanding businesses. Some of the loans may be forgiven if specific goals are met.
Details on individual projects below:
Heliene USA, Inc., Rogers - JCF $601,350, MIF $2,300,000
Heliene USA, Inc. is a solar module manufacturer that currently operates two manufacturing lines of crystalline solar modules. The proposed project will establish a third manufacturing line, and will lease a 230,000-square-foot facility for additional manufacturing, warehouse, and distribution space. The total project cost is $15.07 million and is expected to create 182 jobs within the first two years.
States Manufacturing, Dayton - JCF $840,000, MIF $1,960,000
States Manufacturing provides integrated services through four manufacturing groups, including electrical solutions, metal fabrication, equipment shelters, and painting services. With a total project cost of over $23 million, the proposed project would renovate a 500,000-square-foot building and create 340 jobs within the first three years.
Philips Image Guided Therapy Corp., Plymouth - JCF $1,540,500, MIF $2,000,000
Philips Image Guided Therapy, a medical device and technology systems company, will expand its Plymouth facility to add additional manufacturing and research and development areas, as well as a Global Customer MedTech Training Center that the company anticipates will bring up to 2,000 visitors annually. The company will invest approximately $31 million and create 158 new jobs - representing a more than 50% increase to its local workforce size - over the next four years.
Little Sombrero Salsa, LLC, New Hope - MIF $185,000
Little Sombrero Salsa, LLC, is a salsa manufacturing company founded in Oklahoma in 1999 that recently reopened in 2023 under the same ownership. The proposed project will lease a 17,000-square-foot building in New Hope that will house an office space, warehouse, and manufacturing production line. The total project cost is $935,000 and is expected to create 40 new jobs.
Monumental Sales, Inc., St. Cloud - JCF $175,000
Monumental Sales, Inc. is a granite product manufacturer specializing in granite memorials commemorating those who have passed. The proposed project will consolidate their locations and upgrade the new space for office operations and manufacturing. The total project cost is $9.5 million and is expected to create 10 new jobs.
St. Cloud Window, LLC, Sauk Rapids - JCF $175,000, MIF $150,000
St. Cloud Window, LLC designs and manufactures high-performance acoustic and historic replica aluminum windows, doors, storefronts, and curtainwalls for commercial and industrial buildings nationwide. The company’s expansion project includes renovating the company’s existing facility and site improvements, as well as the purchase of machinery and equipment. The total project cost is $3.6 million and is expected to create 19 new jobs over the next two years.
Two Rivers Enterprises, Inc., Holdingford - JCF $120,000, MIF $200,000
Two Rivers Enterprises, Inc., is a custom stainless steel equipment manufacturer and fabricator for food processing, food service, restaurants, and medical practices. The proposed project will expand the current facility by adding 10,400-square-foot of production space, as well as purchase machinery and equipment. The total project cost is $1.7 million and is expected to create six new jobs.