Minnesota DEED Allocates $5 Million for Business Expansion, Including $550K for Big Lake’s LISI Medical

(KNSI) — The Minnesota Department of Employment and Economic Development has allocated $5 million for three business expansion projects across the state.

One of the projects is LISI Medical Remmele, Incorporated in Big Lake. They are getting $550,000 from the Minnesota Investment Fund for a proposed expansion of the medical device manufacturer. It will add approximately 45,000 square feet, bringing it to 152,000 square feet. The total project cost is $23.5 million and is expected to create 30 jobs within the first three years.

The business specializes in implants and instruments for minimally invasive surgery, orthopedic, spinal, and trauma surgery.

The Minnesota Investment Fund provides financing to help add new workers and retain high-quality jobs – focusing on industrial, manufacturing, and technology-related industries – increasing the local and state tax base and improving Minnesota’s economic vitality.

“Minnesota is one of the best places for businesses of any size to break ground, build, and expand,” said DEED Commissioner Matt Varilek. “The Job Creation Fund and Minnesota Investment Fund’s record-breaking year is testament to how tirelessly DEED’s business development programs and staff work to make Minnesota a place businesses want to settle and thrive.”

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