Daikin Applied Americas Inc. plans to invest USD 40.3 million, creating 132 jobs, to expand its manufacturing operations in Faribault. The company will buy an existing 300,000-square-foot warehouse and renovate the building into a state-of-the-art production facility. The new jobs will be created within 5 years and average wages would be USD 22.20 an hour. The Minnesota Department of Employment and Economic Development (DEED) is supporting the project with a USD 750,000 loan from the Minnesota Investment Fund and a USD 1.6 million grant from the job creation fund. The company will receive the funding after it meets investment and hiring commitments.
The market has generally been slow be it televisions or home appliances. Dishwashers saw a spurt for a couple of months, but the boom seems to be over for that...Read More