Two Central Minnesota Companies Receive $175,000 From the Minnesota Job Creation Fund

(KNSI) – The Minnesota Department of Employment and Economic Development Wednesday announced $2.1 million in awards from the Job Creation Fund, and two central Minnesota companies are among the recipients.

Advanced Volumetric Alliance, LLC in Albertville is getting $175,000 to add a new 180,000 square foot facility. The facility will cost just over $31 million to build, but it’s expected to bring in 135 new jobs within the next two years. Average wages for those jobs will be around $27 an hour. Advanced Volumetric is a startup that will manufacture modular units for use in commercial and residential construction projects.

On top of the $175,000, the company also received a $450,000 loan from the Minnesota Investment Fund. The Minnesota Investment Fund provides loans to companies that create and retain high-quality jobs, focusing on industrial, manufacturing, and technology-related industries to increase the local and state tax base and improve economic vitality.

North Freeze Dry of Little Falls also received $175,000 for a new 85,000 square foot, $30 million processing facility. North Freeze Dry is a startup partnership that will manufacture freeze-dried pet food. The project is expected to create 57 qualifying jobs over the next three years and is also receiving a loan from the Minnesota Investment Fund of $375,000.

The Job Creation Fund provides financial incentives to new and expanding businesses that meet specific job creation and capital investment targets. Companies deemed eligible to participate may receive up to $1 million for creating or retaining high-paying jobs and constructing or renovating facilities, or making other property improvements.

In total, there are six companies receiving money from the JCF that will create 381 new jobs over the next three years.

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