Maple Grove in Running for ‘Project Black Bear’ Headquarters
The city of Maple Grove is in the running for a new headquarters built for an undisclosed company that officials are calling “Project Black Bear.”
If selected, the undisclosed company would build a 400,000-square-foot office in the city’s Gravel Mining Area on approximately 40 acres adjacent to Interstate 94 and west of Lowe’s.
Minneapolis-based Ryan Cos. and C.S. McCrossan, which owns the land, are behind the project. The companies recently submitted a concept plan for a science and technology center in that area.
Planning officials say construction would take two years.
Maple Grove is up against the cities of Marlborough, Mass., and Alpharetta, Ga., according to city planning documents.
‘Project Black Bear’ Would Require State Job Funds, TIF Assistance
At this week’s city council meeting, Maple Grove approved a $6.4 million tax-increment financing (TIF) agreement to help lure the company. The city will also provide a $391,000 business subsidy from a revolving loan fund.
Under the TIF agreement, the company must create at least 256 jobs that would have average wages of $65 per hour.
Officials say special financial assistance is needed due to the soil deficiencies on the site.
According to Stacie Kvilvang, a city consultant with Ehlers & Associates, the $6.4 million in TIF would be broken up into two notes: $4.5 million for the 40-acre “Black Bear” development and $1.9 million for an adjacent 60-acre site set aside for future development.
“The reason for the assistance for the 60 acres that is tied to this project is because essentially they got to bring that site up and figure out where that future development will be on those 60 acres,” said Kvilvang at this week’s city council meeting.
Of the new jobs proposed, 109 would be created through 2025 while the new facility would be constructed. Another 147 jobs would be created the following two years.
City documents show the company has more than 1,000 jobs currently located within the city. Those jobs would be transferred if Maple Grove is not selected for the project.
A site selection is expected in early to mid July “after financial commitments are known,” the documents showed.