DEED Awards $2M for Business Expansion
The Minnesota Department of Employment and Economic Development (DEED) today announced more than $2 million for five business expansion projects across Minnesota. The projects are expected to create or retain 141 jobs and leverage more than $19 million in private investment.
“These projects show how modest public incentives can stimulate large private investment and major overall economic benefits in communities large and small across the state,” said DEED Commissioner Matt Varilek. “Minnesota is one of the top states for business because we value and prioritize innovation, business growth and job creation with family-sustaining wages. These expansion projects will positively impact their communities for years to come.”
Details on the Atscott Mfg. Inc. award below:
Atscott Mfg Inc., Pine City – JCF $175,000
Atscott Mfg, Inc., specializes in manufacturing and assembly services, offering complete part, product, subassembly and assembly capabilities. Atscott Mfg will invest $3 million for a new, 12,000-square-foot facility with four additional assembly bays and new equipment to produce and assemble towers. The project is expected to create 15 news jobs within the first year.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. Find out how DEED delivers for Minnesota by visiting the DEED website