Big news arrived Thursday in Minnesota, thanks to Funding from the Minnesota Department of Employment and Economic Development’s Job Creation Fund and Minnesota Investment Fund.
Minnesota's Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. The Minnesota Investment Fund provides financing that helps add new workers and retain high-quality jobs in a community, focusing on industrial, manufacturing, and technology-related industries.
The October 17 announcement, which came from Minnesota Governor Tim Walz, has a direct impact on Duluth's economy.
According to a release from Governor Walz's office, Duluth manufacturer Sofidel will expand their existing facility in what will ultimately be a $200 million project.
The Sofidel is expected to expand its existing facility into an integrated, state-of-the-art production plant where raw materials are processed, manufactured, and packaged into finished goods such as paper towels, bath tissues, and napkins.
This will require the company to construct a nearly 600,000-square-foot automated warehouse for product storage and distribution. Governor Walz says the Sofidel expansion is supported by a $5 million investment from the State of Minnesota and is expected to create at least 160 new jobs. It's a notable investment in Duluth and the entire state.
“Minnesota is a top state for innovation in manufacturing for a reason. Our investment in Sofidel is creating jobs and reinforcing Minnesota as a top place to live and work,” said Governor Walz. “In partnership with our Department of Employment and Economic Development, we are creating high-growth, high-demand, good-paying jobs, and building a stronger economy all across our state.”
Construction is scheduled to take place in phases beginning in late 2024 and continuing through late 2026.
Gallery Credit: Ken Hayes
Gallery Credit: Liz Barrett Foster