AFS-member foundry awarded state funding for expansion, job creation
Dee Manufacturing, an affiliate of AFS Corporate Member Wisconsin Aluminum Foundry, is one of five companies to receive funding from the Minnesota Job Creation Fund and the Minnesota Investment Fund, according to an announcement August 18 from the Minnesota Department of Employment and Economic Development (DEED). Located in Crookston, Dee Manufacturing has been awarded $175,000, which will go toward facility expansion that’s expected to create 30 jobs in the next three years, with an average wage of $19.40 an hour.
In total, the DEED funded projects are expected to leverage more than $30 million and create 321 jobs over the next three years.
“In this tight labor market, employers are still hiring and looking to expand their businesses,” said DEED Commissioner Steve Grove. “The funding announced today will support expansion that helps grow the Minnesota economy for years to come and paves the way for future economic growth.”
The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. Eligible companies may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements. All projects also received an award from the Minnesota Investment Fund.
The Minnesota Investment Fund provides loans to companies that create and retain high-quality jobs with a focus on industrial, manufacturing and technology-related industries to increase the local and state tax base and improve economic vitality for all Minnesotans.
Other major DEED recipients include: ASV Holdings Inc., Grand Rapids – JCF $850,000, MIF $450,000; KAMP Automation LLC, Owatonna – JCF $800,000, MIF $140,000; Lakeshirts LLC, Little Falls – MIF $450,000; Myplas Recycling, Rogers – JCF $450,000, MIF $1 million.