Company will create 30 jobs, invest $1.9 million
11/2/2016 2:41:20 PM
Shane Delaney, 651-259-7236
ST. PAUL – Perham-based Swan Machine Inc. will create 30 jobs and invest $1.9 million in an expansion at its Grand Rapids facility.
The company, which specializes in building customized precision-machined components, said it will add 13,000 square feet of manufacturing space at its Grand Rapids operation to help support and grow the business. The new jobs will be created over the next three years and pay wages averaging $16 an hour.
The Minnesota Department of Employment and Economic Development (DEED) is supporting the project with a $191,479 grant from the Job Creation Fund. The company will receive the funding once it has completed its investment and hiring goals.
“I thank Swan Machine for its continued commitment to Minnesota. This expansion will create new economic opportunities for Minnesota workers in a growing industry,” said Lt. Gov. Tina Smith. “This expansion further highlights the importance of programs like the Job Creation Fund in fostering the development of new job opportunities across Minnesota.”
“Swan Machine is seeing steady growth, thanks to its use of cutting-edge technology and equipment,” said DEED Commissioner Shawntera Hardy. “This project will bring new jobs and investment to Grand Rapids and help the company stay on its current growth trajectory.”
Swan Machine manufactures parts for guns, paint spray equipment, electronic housings, semi-trailers and agricultural equipment. Swan and its sister company, Kit Masters, employ more than 150 people in Perham and Grand Rapids. CEO Darrin Swanson was named the Minnesota Small Business Person of the Year by the U.S. Small Business Administration in 2012.
The Job Creation Fund, which was first proposed by Gov. Mark Dayton in 2013, is a pay-for-performance program that provides funding to businesses after they meet certain criteria, including minimum requirements for job creation and private investments. Under the program, businesses must create at least 10 full-time jobs and invest at least $500,000 to be eligible for financial assistance.
Since the Job Creation Fund was launched in January 2014, DEED has awarded $32.1 million for 72 business expansion projects in Minnesota. Companies have committed to creating 4,104 full-time jobs and investing $870.9 million to expand.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website or follow us on Twitter.
Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161.