deed010709
On the homepage
Joe Mauer
Out There
NewsBreak
Tour de France
State development grants go to Cannon Falls, Lakefield
Print this story
E-mail this story
Save to del.icio.us
Share on Facebook
Share on Digg
Minnesota business by the numbers
See Minnesota's top earning companies, CEOs and non-profits
More from Business
Cannon Falls and Lakefield were awarded a total of $448,000 in Minnesota development grants Monday to spur employment and aid business expansions.
The grants, issued by the Minnesota Department of Employment and Economic Development (DEED), included $250,000 for Cannon Falls to improve infrastructure in the industrial park where Benchmark AG plans to erect a processing plant that makes soybean-based animal feed. The facility is eventually to employ 16 workers.
Lakefield got $198,000 to fix a water-pressure problem inside the existing Hussong Manufacturing building and to buy a fire sprinkler system for the building's $1 million expansion. The company, which builds Kozy Heat gas, electric and corn-burning fireplaces, plans to hire 10 new workers.
The money came from a DEED program that pays up to 50 percent of the capital costs of various infrastructure projects that create jobs. The state awarded $4.6 million in such grants last year.
Dee DePass • 612-673-7725
- GM exits bankruptcy; CEO vows better performance
- Twin Cities advisers accused of fraud, mismanagement
- Oil below $60 as earnings season opens
- Supervalu CEO clears space on executive shelf
- Smith & Hawken to close its doors in Edina
- AIG, which received $180B in bailouts, asks White House to OK millions in bonuses
- Parents have bad-guy ally to turn off video games
Blog: Patent Pending
Farewell VitalMedix
It’s official. VitalMedix Inc., the promising University of Minnesota drug startup, is leaving for Wisconsin. The company, which is developing a hemorrhagic shock drug designed to keep patients alive even after catastrophic blood loss, hasn’t been able to find investors in Minnesota. Wisconsin, on the other hand, boasts a thriving angel investor community thanks to generous [...]
Comment on this story | Be the first to comment | Hide reader comments