Baxter Healthcare Selects Golden Valley for New R&D Center Expansion
The city of Golden Valley has beat out Chicago for a medical company’s proposed new research and development center.
Deerfield-Ill.-based Baxter Healthcare Corp. has selected a site on General Mills Boulevard, according to city officials and an announcement from the state’s Department of Employment and Economic Development (DEED).
The DEED announcement said Baxter will receive more than $3 million in state job funds to help build the new center, which will support its kidney care business.
The total investment by Baxter is $40.7 million, according to DEED.
Of the state funds, $1.8 million would come from the state’s Job Creation Fund. The state’s Minnesota Investment Fund, a forgivable loan program, would provide another $1.4 million.
Bassett Creek Innovation Center in Golden Valley where new R&D center is proposed
State officials say the new center, once ready, is expected to create 70 jobs.
City documents previously showed that Baxter would relocate another 70 jobs to the new center from an existing facility in Plymouth.
