Photo: Pioneer Press

From the Minnesota Department of Employment and Economic Development • December 16, 2022

Governor Tim Walz and the Minnesota Department of Employment and Economic Development (DEED) announced funding for four businesses through the Minnesota Job Creation Fund and the Minnesota Investment Fund. The total award is more than $4.6 million and is expected to create 276 jobs over the next three years.

"We are working to make Minnesota the best place to grow or start a business – whether that be in Greater Minnesota or the Twin Cities Metro," said Governor Walz. "Our economy is strong and growing, and we will continue to support businesses like these that are expanding and creating jobs right here in Minnesota."

"In this historically tight labor market, employers are still hiring and looking to expand their businesses," said DEED Commissioner Steve Grove. "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. In some cases, companies may receive awards of up to $2 million.

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.

Biomerics, LLC, Brooklyn Park – JCF $405,000, MIF $1,000,000

Biomerics, LLC is a vertically integrated, mid-market medical device contract manufacturer in the interventional device market. With locations in Plymouth and Brooklyn Park, the company has leased an additional 100,000 square feet of space at their current Brooklyn Park location. This additional space will allow the company to co-locate all Minnesota locations in one building. The total project is expected to cost $4.6 million and will create 53 jobs with an average wage of $23.50 per hour over three years. 

Intek Plastics, Inc., Hastings – JCF $725,000, MIF $975,000

Intek Plastics, Inc. is a provider of precision-engineered, customized plastic extrusions for demanding applications, including services such as design engineering, in-line and off-line fabrication and fulfillment solutions. The proposed project would construct an additional space of 60,000 square feet in the company's current location, with the total project investment projected to be $8.6 million. The project is expected to create 46 jobs with an average wage of $32.54 an hour plus benefits over three years.

Wabash, Little Falls – JCF $175,000, MIF $450,000

Wabash is an industrial manufacturer and producer of semi-trailers, truck bodies and liquid transportation systems. The project's goal is to expand their current facility in Little Falls to double production of EcoNex™ panels—molded structural composites used for refrigerated transportation equipment—through facility renovation and machinery acquisitions. The total project is expected to cost $10.9 million and will create 136 jobs with an average wage of $17.54 an hour over the next two years.

Wiha Tools USA, Monticello – JCF $660,000, MIF $220,000

Willi Hahn Corporation USA, doing business as Wiha Tools USA, a subsidiary of Wiha Werkzeuge Gmbh, is a manufacturer and distributor of hand tools and solutions for professional tradespeople and industrial markets. Beginning in early 2023, Wiha Tools will start the construction of a new US headquarters and distribution facility in Monticello. Phase 1 of the proposed project will be a 75,000 square foot facility on 12.9 acres, with a total project cost of $12.5 million, and will create 41 jobs at an average wage of $20.61 an hour.