Daikin plans $40.3 million expansion in Faribault
23 Sep 2018
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Company adding to manufacturing operations, creating 132 jobs
ST. PAUL – Commercial HVAC manufacturer Daikin Applied Americas Inc. will create 132 jobs and invest $40.3 million to expand its manufacturing operations in Faribault.
The company said it will buy an existing 300,000-square-foot warehouse and renovate the building into a state-of-the-art production facility. The new jobs will be created within five years and pay wages that average $22.20 an hour.
The Minnesota Department of Employment and Economic Development (DEED) is supporting the project with a $750,000 loan from the Minnesota Investment Fund and a $1.6 million grant from the Job Creation Fund. The company will receive the funding after it meets investment and hiring commitments.
“Daikin Applied explored multiple U.S. sites and Mexico for this project but ultimately chose southern Minnesota,” said DEED Commissioner Shawntera Hardy. “The company’s decision to expand in the area is a testament to the region's skilled workforce and positive achievements at existing operations.
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Tom Lambrecht