Maple Grove-based Caisson Interventional, a medical device firm that specializes in heart valves, is expanding its facility by 30,000 square feet over the next few months with plans to add 50 jobs.
Caisson received a $359,850 grant to help fund the expansion from the Minnesota Department of Employment and Economic Development, or DEED, and is privately investing $750,000, according to a Tuesday announcement.
Paul Buckman, the general manager for transcatheter mitral valve replacement at Caisson, said the company currently employs about 50 people in a 12,000-square-foot facility.
“As we’ve grown as a small organization, we started running out of room,” Buckman said. “We just were kind of bursting at the seams.”
Caisson purchased an existing building in Maple Grove and is making modifications before moving in at the beginning of March. The 50 additional jobs will cover all aspects of the company, including engineering, manufacturing and clinical positions, he said.
The new jobs will be created within three years and pay wages averaging $32.71 an hour, according to DEED’s statement. “The grant certainly helps us,” Buckman said. “It makes it easier to stay in Minnesota.”
The grant, contingent on Caisson meeting certain investment and hiring requirements, came out of the Job Creation Fund, a program started in 2013 that encourages local businesses to apply for specific project funding.
“This success story is made possible in part by Minnesota’s Job Creation Fund,” Gov. Mark Dayton said in a statement. “We look forward to partnering with more Minnesota employers to support their expansions and create more good-paying jobs in our state.”
Olivia Johnson is a University of Minnesota student reporter on assignment for Star Tribune.