Daikin’s $40M expansion in Faribault set to generate 132 jobs
Tuesday, September 25, 2018
Daikin Applied Americas, which manufactures commercial heating, ventilation and air condition systems, is expanding its Faribault site; DEED is contributing $2.35 million to the project.
Japanese air conditioning and heating systems maker Daikin Industries Ltd. is expanding the footprint of its American subsidiary Daikin Applied Americas Inc. with a $40.3 million project in Faribault. Approximately 132 jobs are expected to be created.
The Plymouth-based subsidiary, which manufactures heating, ventilation and air condition systems, said it will purchase an existing 300,000-square-foot warehouse in Faribault and renovate it into a state-of-the-art production facility.
To help finance the expansion, the Minnesota Department of Employment and Economic Development (DEED) will contribute a $750,000 loan from the Minnesota Investment Fund, and a $1.6 million grant from the Job Creation Fund.
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