[ST. PAUL, MN] – Governor Tim Walz and the Minnesota Department of Employment and Economic Development (DEED) today announced more than $5 million for three business expansion projects in the state. The projects are expected to support 175 jobs and leverage $72 million in outside investment.

"We didn't achieve our ranking as a top state for business by accident. We earn that reputation by investing in business expansion, supporting innovation, and driving business growth," said Governor Walz. "These projects will create good-paying jobs and expand Minnesota's leadership in health care and medical technology."

"Minnesota is one of the best places for businesses of any size to break ground, build, and expand," said DEED Commissioner Matt Varilek. "The Job Creation Fund and Minnesota Investment Fund's record-breaking year is testament to how tirelessly DEED's business development programs and staff work to make Minnesota a place businesses want to settle and thrive."

The Job Creation Fund (JCF) provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.

Eligible companies may receive up to $2 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements.

The Minnesota Investment Fund (MIF) provides financing to help add new workers and retain high-quality jobs – with a focus on industrial, manufacturing, and technology-related industries – increasing the local and state tax base and improving Minnesota's economic vitality. Funds are awarded to local units of government, which provide loans to assist expanding businesses. Some of the loans may be forgiven if specific goals are met.

Details on individual projects below:

Baxter Healthcare Corporation, Golden Valley – JCF $1,840,000, MIF $1,370,000

Baxter Healthcare Corporation is a global medical technology manufacturer headquartered in Deerfield, Illinois, with locations around the world. The proposed expansion will create a new research and development center in Minnesota that will support the company's kidney care business. The total expansion cost is $40.7 million and is expected to create 70 jobs.

LISI Medical Remmele, Inc., Big Lake – MIF $550,000

LISI Medical — a division of LISI Group — is a medical device manufacturer that specializes in implants and instruments for minimally invasive surgery, as well as orthopedic, spinal, and trauma surgery. The proposed expansion will grow the existing Big Lake facility by approximately 45,000 square feet, bringing it to a total of 152,000 square feet. The total project cost is $23.5 million and is expected create 30 jobs within the first three years.

Simpli-Fi Automation, Inc., St. Paul – JCF $268,000, MIF $1,000,000

Simpli-Fi Automation, Inc. is a St. Paul-based company specializing in cutting-edge technology for health care. The company is planning to develop a 7,500-square-foot facility in St. Paul to create advanced materials used in health and environmental sensors that are vital for improving patient care and monitoring environmental conditions. The $12.2 million expansion is set to create or retain 75 jobs over the next three years.