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Jul 26, 202315 MN Businesses Awarded State Funds For Expansion
ST. PAUL, MN — The Minnesota Department of Employment and Economic Development will distribute more than $13 million to help 15 Minnesota businesses expand in the state.
The funding comes from DEED’s Job Creation Fund and the Minnesota Investment Fund. The investments will create 652 jobs over the next five years, according to Gov. Tim Walz's office.
"Minnesota is proud to be a top state for business and to live and work," Walz said in a statement.
"I am grateful to the workers, entrepreneurs, and businesses that call Minnesota home and contribute to our economy. We are committed to supporting our businesses and investing in the future of Minnesota’s workforce, whether through business expansion, grants for entrepreneurs, or child care."
Walz's office provided summary details on each project below:
CFMOTO Powersport, Plymouth – MIF $340,000
Daikin Applied Americas, Inc., Owatonna – JCF $175,000
Elemet Group Inc., Princeton – JCF $800,000, MIF $1,000,000
F2F Inc., Faribault – JCF $175,000
Falls Fabricating LLC, Little Falls – JCF $175,000, MIF $190,000
ForwardEdge ASIC LLC, St. Paul – JCF $500,000, MIF $800,000
GEOTEK LLC, Stewartville – JCF $800,000, MIF $230,000
Graco Minnesota Inc., Anoka – JCF $737,000, MIF $250,000
Massman Companies Inc., Alexandria – MIF $150,000
Natural American Foods, Lakeville – JCF $155,000
Niagara Bottling Company, Elko New Market – MIF $405,000
Polar Semiconductor LLC, Bloomington – JCF $800,000, MIF $4,000,000
Renegade Truck Equipment, Richmond – MIF $400,000
Spectro Alloys Corporation, Rosemount – JCF $750,000, MIF $400,000
Sunrise Fiberglass LLC, Wyoming – JCF $175,000
William BornhoftCFMOTO Powersport, Plymouth – MIF $340,000 Daikin Applied Americas, Inc., Owatonna – JCF $175,000 Elemet Group Inc., Princeton – JCF $800,000, MIF $1,000,000 F2F Inc., Faribault – JCF $175,000 Falls Fabricating LLC, Little Falls – JCF $175,000, MIF $190,000 ForwardEdge ASIC LLC, St. Paul – JCF $500,000, MIF $800,000 GEOTEK LLC, Stewartville – JCF $800,000, MIF $230,000 Graco Minnesota Inc., Anoka – JCF $737,000, MIF $250,000 Massman Companies Inc., Alexandria – MIF $150,000 Natural American Foods, Lakeville – JCF $155,000 Niagara Bottling Company, Elko New Market – MIF $405,000 Polar Semiconductor LLC, Bloomington – JCF $800,000, MIF $4,000,000 Renegade Truck Equipment, Richmond – MIF $400,000 Spectro Alloys Corporation, Rosemount – JCF $750,000, MIF $400,000 Sunrise Fiberglass LLC, Wyoming – JCF $175,000