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Little Falls business earns DEED funding

North Freeze Dry will get funds to help with an expansion project.

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LITTLE FALLS — North Freeze Dry of Little Falls is one of six Minnesota businesses awarded funds from the Department of Employment and Economic Development’s Job Creation Fund.

DEED announced Wednesday, Sept. 8, the award of $2.1 million to help the six businesses expand. The projects are expected to leverage $123 million in investments from the companies and create 381 new jobs over the next three years.

"The Job Creation Fund once again proves to be an incredible return on investment for the state," stated DEED Commissioner Steve Grove in a news release. "I congratulate these cities and businesses on their future economic growth."

North Freeze Dry LLC is a startup partnership that will manufacture freeze-dried pet food. The total project is expected to cost over $30 million and include a new 85,000-square-foot processing facility. The project is expected to create 57 qualifying jobs over the next three years, with added help from a $375,000 loan from the Minnesota Investment Fund. The project will receive the Job Creation Fund money once established criteria are met.

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The Job Creation Fund 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.

All projects also received an award from the Minnesota Investment Fund, which seeks to provide loans to companies that create and retain high-quality jobs with a focus on industrial, manufacturing and technology-related industries to increase the local and state tax base and improve the economic vitality for all Minnesotans.

Related Topics: LITTLE FALLS
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