Central Minnesota Companies Get Help To Expand

(KNSI) – Three central Minnesota companies are among the 15 statewide picked to get aid to expand and encourage hiring.

The Minnesota Department of Employment and Economic Development announced over $13 million to help businesses.

Renegade Truck Equipment, Inc. in Richmond is getting $400,000. The company makes truck bodies for the gravel industry, constructions, flatbeds, utility trucks, truck equipment, and trailer accessories. The company’s proposed project will add 20,000 square feet to its Richmond facility. That will increase manufacturing space and upgrade the factory. The project is expected to cost $3.3 million and create 15 new jobs with an average wage of $36.92 per hour.

Falls Fabricating LLC in Little Falls received $365,000. The full-service precision fabricator makes complex components for cabinets, chassis, tanks, reservoirs, frames and brackets. The proposed project will expand its building by 40,000 square feet and update its equipment. The project is expected to cost $15 million and create 32 jobs with an average wage of $22.34 per hour.

Elemet Group Inc. in Princeton is getting $1.8 million. The company specializes in robotic welding, heavy metal spinning, powder coating & finishing, heavy machining, fabrication and laser cutting. The proposed project will build a new facility to support their growing business and manufacturing needs. It is expected to cost $26.4 million. The company wants to hire 45 new workers within three years at an average wage of $29.59 per hour.

The money comes from DEED’s Job Creation Fund and Minnesota Investment Fund. The funds give cash to help add new workers and keep high-quality jobs in an area focusing on industrial, manufacturing, and technology industries. The idea is to increase the local and state tax base.

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