Doosan Bobcat will open a new collaboration center in downtown Minneapolis' Fifth Street Towers this fall as part of its new global organizational structure.

The 10,600-square-foot office will help the South Korean-based construction equipment giant host more global meetings and accelerate innovation among a far-reaching group of leaders and team members, officials said this week. A restructuring in June was meant to strengthen companywide engineering, procurement and strategy decisions.

The company chose Minneapolis for the collaboration center, officials said, because it was convenient for employees and customers due to the Minneapolis-St. Paul International Airport. The new office, which will open Oct. 1, will have staff huddle areas, a hospitality section and six well-equipped meeting rooms to accommodate up to 50 visitors and staffers. The cost of the new site was not disclosed.

"Minneapolis has long been recognized as a hotbed of technology and engineering talent. We're excited for Doosan Bobcat to become part of this vibrant community and contribute to its innovative spirit with our growing team of professionals, " said Doosan Bobcat CEO Scott Park. "Our future is exciting and the collaborative nature of the [new] center will move us farther and faster."

The Upper Midwest is key to Doosan Bobcat's operations. The company's famed compact skid-steer loader was invented in Rothsay, Minn., 61 years ago by the farmers and blacksmithing brothers Cyril and Louis Keller. Their first six skid-steers were fashioned in 1958 with bars from the Rothsay jail.

Doosan Bobcat's North American headquarters are in Fargo, where its regional president Mike Ballweber is based. Ballweber took over the position when Park became CEO. Bobcat's North American Acceleration Center is in Bismarck, N.D.

Doosan Infracore Co. bought Bobcat in 2007. Today, Doosan has 41,000 employees in 38 countries — including Bobcat's large production facilities in Litchfield, Minn., and Gwinner and Wahpeton, N.D. It also has manufacturing operations in China, India, France and the Czech Republic.

The Doosan Bobcat division makes small skid-steer loaders, large wheel loaders, and other heavy construction equipment such as excavators, lifts, backhoes and bulldozers.

The company also plans to open a digital business innovation center this fall in downtown Fargo.