(KNSI) – Sartell has attracted a large magnet manufacturer who will break ground on a new plant in the coming years.
Niron Magnetics
The city council has signed a deal to sell 79 acres of public land to Niron Magnetics. The property is on the east side of 4th Avenue South and was purchased in 2023 as part of the 167-acre Mill District site and Champion Plat. The project is expected to create 327 jobs, with 175 permanent and the rest from construction of the new 150,000-square-foot facility. The company chose the location after evaluating 75 potential sites.
The land is being sold for $0 as part of an incentive package offered by Sartell to attract the company. The incentive package includes a donation of land, an option for Tax Increment Financing, and waiving some development fees. According to an analysis by St. Cloud State University, the company’s construction and operations will create income and tax revenue. Once operational, the company will contribute $8.7 million in annual tax revenue.
According to a press release, Sartell and Niron Magnetics are entering a 180-day due diligence period during which a subsidy agreement will be negotiated. For the property purchase to close, specific criteria must be met.
Sartell will host three listening sessions and one public hearing to allow the community to contribute its two cents. Residents can talk directly with council members and city staff, ask questions, and share feedback.
The city’s website will also have a frequently asked questions, or FAQ section.
The first listening session is next Tuesday, October 8th, at the Sartell Chamber’s State of the City event. The get-together is open to the public and will be held at the Waters Church between noon and 1:00 p.m. Non-Chamber members can purchase lunch for $5.00.
If you’re planning to attend, email info@sartellchamber.com to register.
According to Niron Magnetics, the Minneapolis-based company is the world leader in developing rare earth-free permanent magnets. These magnets are made from more readily available materials, offering a more sustainable alternative to traditional magnets.
Learn more about the company by clicking here.
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