Shakopee Lands Three Big Company Expansions
Three companies plan to start building large facilities in Shakopee within the next couple of years-projects that will collectively bring in hundreds of permanent jobs to the city, according to a Finance & Commerce report.
Imagine! Print Solutions, which already has a 500,000-square-foot headquarters at 1000 Valley Park Drive in Shakopee, reportedly plans to break ground later this year on a 300,000-square-foot addition.
Meanwhile, Issaquah, Washington-based SanMar Corporation reportedly plans to start construction this year on a $35 million, 580,000-square-foot distribution center that will have 150 workers after it opens in 2013. The facility will be SanMar's first in Minnesota.
And Faribault-based Trystar, Inc., is reportedly wrapping up an agreement to purchase 28 acres on the southeast corner of Highway 169 and Canterbury Road. Trystar plans to break ground next year on a $15 million, 175,000-square-foot headquarters and manufacturing plant that will employ at least 100 workers by 2015, Finance & Commerce reported.
A major driver of the city's growth is reportedly the Minnesota Department of Transportation's $125 million-plus reconstruction of the Highway 169-Interstate 494 interchange. Michael Leek, Shakopee's community development developer, told Finance & Commerce that the project, slated to be completed this year, has already cut 10 to 20 minutes off travel times in that area.
The City of Shakopee is reportedly also considering incentives such as tax abatements and tax increment financing to sweeten the deals for the three companies.
To read the full story in Finance & Commerce, click here.