DEED Awards Job Funds to Philips in Plymouth, New Hope’s Little Sombrero Salsa
The Minnesota Department of Employment and Economic Development recently announced more than $10 million in funds to help with seven business expansion projects. Two of those projects are in northwest suburbs covered by CCX News.
Philips Image Guided Therapy Corp., the med-tech division of Philips, was awarded $3.5 million to help expand its facility in Plymouth. The funds include $1.5 million from the state’s Job Creation Fund and $2 million from the Minnesota Investment Fund. Both funds provide incentives for companies to create or retain high-paying jobs.
The state funds are expected to help Philips invest approximately $31 million at its Plymouth facility, located at 5905 Nathan Ln. N. The company plans to add new manufacturing and R&D space, as well as create a Global Customer MedTech Training Center that it anticipates will draw up to 2,000 visitors annually.
The investment by Philips is expected to create 158 new jobs over the next four years. That would be a more than 50 percent increase to its local workforce.
Philips moved to the Plymouth location in 2019.
New Hope’s Little Sombrero Salsa To Receive Funds
Meanwhile, the state also awarded $185,000 from the Minnesota Investment Fund to Little Sombrero Salsa in New Hope.
The company, which was founded in Oklahoma in 1999, plans to lease a 17,000-square-foot building at 3980 Quebec Ave. N. The proposed project will house a salsa manufacturing production line, as well as office and warehouse space.
According to state DEED officials, the total project cost is $935,000 and is expected to create 40 new jobs.
