Canadian Co. Picks MN For $2M R&D Facility, Adding MN Jobs
Canadian manufacturer Price Industries announced Thursday that it chose Maple Grove for the headquarters of a newly created corporation called Price Mechanical, Inc., which will manufacture custom air-conditioning products.
Price Industries is based in Winnipeg, Manitoba and manufactures and distributes air distribution products in North America.
The company said its new 12,000-square-foot design center cost $2 million and would serve as the Prime Mechanical’s U.S. headquarters and bring with it 40 new high-level engineering jobs.
The new Maple Grove facility is expected to begin operations in April, the company said, and will be used for the research and development of customized heating, ventilation, and air conditioning products. The hiring process will begin in February.
Director of Marketing Greg Loeppky told Twin Cities Business that the hope is to eventually expand the Price Mechanical company beyond R&D to include manufacturing, possibly at another new facility, but said it hasn’t been determined if that new facility would also be in Maple Grove, or even in Minnesota.
“We are excited and proud to develop advanced, high-efficiency products here in the state of Minnesota,” Price Mechanical President and CEO Ron Hanlon said in a statement. “We studied various locations around North America and chose Minnesota due to the availability of great engineering and technical workers, as well as a demonstrated innovative and productive work force.”
Price Industries officials joined Governor Mark Dayton and Minnesota Department of Employment and Economic Development (DEED) Commissioner Katie Clark Sieben Thursday morning to make the announcement. DEED said it will provide $700,000 from it’s Minnesota Investment Fund to help finance Price’s new development. According to the Pioneer Press, Dayton wooed Price executives when he took an unannounced trip to Winnipeg last summer.
“We are pleased that Price chose Minnesota for an R&D facility that will bring new, good-paying jobs to the state,” Dayton said. “I thank the company for committing to Minnesota, and we will work with them to ensure their long-term success in Maple Grove.”
This is Price Industries’ first footprint in Minnesota. The company’s revenue totaled more than $350 million in 2013 and it has about 2,400 employees worldwide.