Digi-Key Corporation—which began as a small operation in rural northwestern Minnesota and has grown into a $1.75 billion powerhouse—is quietly growing in Fargo, North Dakota.
Digi-Key’s primary operations remain in Thief River Ralls, where the company was founded and currently employs more than 2,600 workers. Digi-Key is a worldwide distributor of components to designers of electronic device prototypes, and its workforce sends out 16 million parts annually from more than 650 vendors.
Next week, Twin Cities Business will induct Digi-Key CEO Mark Larson into the 2014 Minnesota Business Hall of Fame at a gala in downtown Minneapolis. (Learn more about Larson's legacy and the history of Digi-Key here.)
Larson recently told TCB that two primary factors led to the company adding a product distribution center in Fargo: first, a shortage of warehouse space in Thief River Falls, and second, more recently, a difficulty in filling positions in Thief River Falls. In fact, the company has been offering financial incentives for relocation and “bounties” for employees who refer new hires in Thief River Falls. It even transports workers from nearby towns in Wi-Fi-enabled buses.
While Fargo still constitutes a relatively small portion of Digi-Key's operations, the company is growing in the North Dakota city. In fact, Digi-Key is on track to have more than 100 employees there by the end of the summer, according to a report by the InForum.
Digi-Key also finished a 40,000-square-foot addition in April to connect two buildings, the newspaper reported. Furthermore, Digi-Key plans to acquire another 100,000 square feet by November, which will bring its total space to 340,000 square feet.
Read the full InForum story to learn more about Digi-Key's growth in Fargo.