ST. PAUL — Gov. Tim Walz announced on Aug. 4 that the Minnesota Department of Employment and Economic Development will provide over $13 million to help 15 businesses across Minnesota expand.

The funding, from DEED’s Job Creation Fund and Minnesota Investment Fund, will leverage nearly $766 million in outside investment and create 652 jobs over five years.

“Minnesota is proud to be a top state for business and to live and work,” said Walz in a press release. “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.”

“The Job Creation Fund and Minnesota Investment Fund are important programs that not only help create jobs but stimulate economic investment around our state,” said DEED Commissioner Matt Varilek in a press release. “These programs are just two examples of DEED’s continued dedication to business expansion statewide.”

This comes as Walz recently announced that Minnesota is a top-five state to live and work. Minnesota was also named a top-five state for business earlier this month.

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 $2 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements.

The Minnesota Investment Fund provides financing to help add new workers 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 Minnesota’s economic vitality. Funds are awarded to local units of government who provide loans to assist expanding businesses.

Details on individual projects below:

Massman Companies Inc., Alexandria – MIF $150,000 

Massman Companies design and manufacture automated packaging machines. Their services include designing, manufacturing and installing systems for case packing, cartoning, robotics, palletizing, liquid filling, shrink packaging and engineering integrated production line systems. The proposed project will purchase 80 acres in Alexandria that includes a new 73,000 square foot facility to be used for machine design, assembly, machine testing, engineering and customer demonstrations. The project is expected to cost $18 million and create 21 new jobs.

Other companies receiving funding are CFMOTO Powersport, Daikin Applied Americas, Inc., Elemet Group Inc.,F2F Inc., Falls Fabricating LLC, ForwardEdge ASIC LLC, GEOTEK LLC, Graco Minnesota Inc., Natural American Foods, Niagara Bottling Company, Polar Semiconductor LLC, Renegade Truck Equipment, Spectro Alloys Corporation, and Sunrise Fiberglass LLC.

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