Report: Hundreds Of MN Jobs To Be Created Through Expansions
About $241 million and 950 new jobs are expected to be created over the next two years due to company expansions
Minnesota expects to see hundreds of millions of dollars in investments and new hiring due to the expansion of nearly two dozen companies throughout the state.
Over the next two years, 22 separate projects will invest $241 million in the state and result in 950 jobs, according to a second-quarter report by the Minnesota Department of Employment and Economic Development (DEED).
“Minnesota had a strong second quarter, with corporate investments nearly triple the investments in this year’s first quarter,” said DEED Commissioner Katie Clark Sieben in a statement. “It is great to see so much private investment coming into the state.”
Among the largest expansions announced was Anderson Corporation, the Bayport-based window manufacturer, which is investing $18 million in its facility and adding 100 employees. Medical device manufacturer Cardiovascular Systems, based in New Brighton, plans to build a new $30 million headquarters and add 205 jobs.
Projects were scattered throughout the state, with about half occurring in the Twin Cities metro area and the rest in Greater Minnesota. Manufacturing dominated the list, with 15 projects in that sector.
To aid the expansion, the state is contributing $9.5 million in subsidies. This does not include any local aid being provided.
The results of the DEED report fall in line with future trends highlighted by an annual survey by Manpower, one of the world’s largest staffing companies. The Manpower Employment Outlook Survey, an analysis that measures employers’ intentions to increase or decrease the number of employees in their workforces predicts a healthy pace of hiring.
Industries such as manufacturing, transportation, retail, and hospitality are likely to see continued hiring, the survey indicates, while construction and information sectors will see bleaker prospects.
Annual private-sector job growth in the state stood at nearly 47,000 as of July, with a seasonally adjusted unemployment rate of 4.5 percen