X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

ST. CLOUD, MN-In response to the growing demand of its all-terrain vehicles (ATVs) and snowmobiles, Thief River Falls, MN-based manufacturer Arctic Cat is building a 56,000-sf manufacturing facility here.

The $8 million plant, which is expandable to 200,000-sf, will be located on a 15-acre site, near an additional 40-acre vehicle test track. Initially, the site will house Arctic Cat’s growing engine manufacturing division and be used to assemble the company’s ATV engines. Construction is slated to begin in 2006 and be completed around year-end, with the plant operational by 2007.

At a press conference in the governor’s office Thursday, Arctic Cat’s chairman and CEO Chris Twomey and St. Cloud city officials joined Gov. Pawlenty to highlight the company’s affect on job growth for the Twin-Cities area. According to Twomey, the company will fill 50 new positions when the plant opens, and could potentially employ up to 150 people at the site once the new facility is fully operational. “These investments are critical to maintaining a vibrant Minnesota economy and continued job growth,” praised Gov. Pawlenty.

Twomey said the company’s site selection was in large part due to St. Cloud’s upper Midwest location, convenient access to major suppliers and well-educated workforce. However, according St. Cloud Mayor John D. Ellenbecker, financial incentives played a primary role persuading the company to locate to St. Cloud.

Through the Minnesota Investment Fund, the state is providing a 10-year, interest-free loan of $500,000 for the facility’s development, and through the Minnesota Job Skills Partnership program, the state will provide educational assistance. The site also qualifies for the Minnesota Job Opportunity Building Zones (JOBZ) program; if approved, the company would receive local and state tax exemptions through 2015. The City of St. Cloud is providing local assistance in locating the new facility to its Interstate 94 Business Park.

The company does not currently anticipate that its expansion in St. Cloud will affect employees at its Thief River Falls headquarters plant.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.