(KNSI) – The Minnesota Department of Employment and Economic Development announced a $750,000 grant to the City of Princeton on Thursday to expand its industrial park.
The project is one of three selected for the most recent round of the Greater Minnesota Business Development Public Infrastructure Grant Program. It will add 44 acres, enough for five lots, for industrial development.
Princeton says the grant will lead to 801 new jobs and around $63 million in private development. Governor Walz says three cities will get a total of $2.3 million, including Bemidji and Hutchinson.
One company has already committed to a new lot in Princeton. Element Group is in metal fabrication and finishing. It will build a $15.6 million facility staffed by 165 employees.
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