Daikin Applied Americas is to spend USD 40.3 million on its new manufacturing operation in Faribault, Minnesota, it has been revealed.
The Minnesota Department of Employment and Economic Development (DEED) has revealed that it is supporting the project, announced by Daikin in May, with a USD 750,000 investment loan and a USD 1.6 million grant from its job creation fund.
According to DEED, Daikin will buy an existing 300,000ft² warehouse and renovate the building into a state-of-the-art production facility, creating 132 jobs.
Announcing the investment in May, Daikin Applied Americas vice president and general manager Will Fort said: “We have grown our operation within the city of Faribault over 50 years. In 2000, we opened the Owatonna factory, and completed a major expansion there in 2014 to triple its size,” said Fort.
The factory is expected to be brought on line in 2019. – Cooling Post