Daikin Applied expands in Minnesota, invests $9m
The new expansion, which received $1.45 million in state assistance from the state's Minnesota Job Creation Fund and Minnesota Investment Fund, will create 40 new jobs in Owatonna with wages and benefits averaging $31 per hour.
Daikin Applied is one of 15 companies that have received assistance from the Minnesota Job Creation Fund over the last six months to help finance a business expansion in Minnesota.
Altogether, Daikin Applied received $880,000 from the Fund. In 2013, Governor Dayton and the Legislature invested $24 million in the initiative, which provides up to $1 million to qualifying businesses planning to expand and create new jobs in Minnesota.
Daikin Applied also received $600,000 from the Minnesota Investment Fund for its expansion. ■