St. Cloud Business Earns Grant Money to Help Expansion Project

(KNSI) – The Minnesota Department of Employment and Economic Development is providing over $5 million in funding to eight businesses, including one in St. Cloud.

Advanced Interconnect Technologies is receiving a total of $466,500. The company is expanding its Franklin Avenue headquarters by 5,000 square feet and adding 20 jobs with an average wage of almost $37 per hour. The total project cost is estimated at $3.8 million.

The money was awarded through the Minnesota Job Creation Fund (JCF), which helps businesses expand while retaining or hiring employees. Other financing comes from the Minnesota Investment Fund (MIF), which is meant for industrial, manufacturing, and technology companies.

A full list of winners is below.

– Advanced Interconnect Technologies LLC, St. Cloud – JCF $341,500, MIF $125,000

– Altoz, Inc., Red Lake Falls – MIF $420,000

– Clow Stamping Company, Inc., Merrifield – JCF $840,000, MIF $450,000

– Gordini USA Inc., North Mankato – JCF $800,000, MIF $210,000

– Massman Companies Inc., Alexandria – JCF $175,000, MIF $150,000

– Nextern Inc., Maple Grove – JCF $450,000, MIF $600,000

– Nucleus Labs INC, Rochester – JCF $500,000, MIF $220,000

– SCR Solutions Inc., Fergus Falls – JCF $160,000

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