Wagner SprayTech will build a $15 million distribution facility in Otsego, MN. The Plymouth, MN-based company, which specializes in manufacturing and marketing paint sprayers, applicators and decorating products for the consumer and contractor markets, will build the 270,000-square-foot facility in the Gateway North Business Center. Construction is expected to begin this year and will be completed by October. The expansion will also include creating new jobs to assist in the operations of the facility.
The Minnesota Department of Employment and Economic Development (DEED) is supporting the expansion with a $180,000 grant from the Job Creation Fund. The company will receive the funding after meeting its investment and hiring commitments.
“Wagner SprayTech is growing thanks to an emphasis on innovative and quality products,” said DEED Commissioner Katie Clark Sieben. “This expansion will bring new jobs and investment to the Otsego area and help the company respond to increasing demand for its products.”
The Job Creation Fund, which was first proposed by Gov. Mark Dayton in 2013, is a pay-for-performance program that provides funding to businesses after they meet certain criteria, including minimum requirements for job creation and private investments. Under the program, businesses must create at least 10 full-time jobs and invest at least $500,000 to be eligible for financial assistance.
Since the Job Creation Fund was launched in January 2014, DEED has awarded $27.9 million for 59 business expansion projects in Minnesota. Companies have committed to creating 3,535 full-time jobs and investing $589.2 million to expand.
Relocating or Expanding Your Business In Minnesota
Considering Minnesota for your company’s relocation or expansion project? Check out Business Facilities’ Minnesota Incentives and Workforce Development Guide.