Cirrus getting portion of $2.1 million in DEED funds
As the State of Minnesota looks to build up the job market, DEED has announced $2.1 million in funding for three businesses in the state, Cirrus being one of them.
The Minnesota Department of Employment and Economic Development says the businesses are either expanding their locations or moving to Minnesota, and are expected to create 165 new jobs over the next three to five years. This funding is expected to leverage more than $19.5 million in investment to the state.
"One hundred and sixty-five new jobs are coming to Minnesota with the help of state dollars," said DEED Commissioner Steve Grove. "These expansions will help grow the Minnesota economy for years to come and pave the way for future economic growth." The Job Creation Fund (JCF) provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. Companies deemed eligible to participate may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements.
Cirrus is getting between $500,000 and $695,000.