Monte Hanson, 651-259-7149
SHAKOPEE – Over the next three years, Emerson Process Management, a business of Emerson, plans to add another 200 jobs after completing a $26 million expansion of its Rosemount instrumentation manufacturing facility in Shakopee. These jobs and expansion are part of the company’s plans to invest up to $70 million and add a total of up to 400 jobs over five years.
Emerson Process Management, which makes and sells Rosemount instruments that measure pressure, temperature, level and flow for a variety of industries, said the jobs will pay an average hourly wage of at least $17.80.
To assist the expansion, the Minnesota Department of Employment and Economic Development (DEED) will award Emerson $905,000 from the Minnesota Job Creation Fund if Emerson meets it performance goals.
The fund was first proposed by Governor Mark Dayton last year and was among $24 million in business incentives that were approved in the 2013 legislative session. Officials said the program is helping the state to compete for new jobs and businesses.
“When Minnesota businesses grow, so does Minnesota’s economy,” said Governor Dayton. “I thank Emerson for their very important expansion that will bring 200 good-paying jobs to Shakopee – jobs that, on average, will pay nearly $18 per hour for hard-working Minnesotans. This expansion, helped by the state's new Job Creation Fund, is great news for Minnesota.”
“The Minnesota Job Creation Fund is living up to its name in a big way, encouraging companies to create jobs throughout Minnesota,” added DEED Commissioner Katie Clark Sieben. “We’re excited that Emerson is committed to expanding in Shakopee and participating in this new DEED program.”
Emerson Process Management, which has about 2,000 employees in Minnesota, specializes in automation technologies and services for the oil and gas, power, chemical, refining, alternative fuels, life sciences, pulp and paper, and other industries. The company is a business of St. Louis-based Emerson, which has approximately 132,000 workers and 230 manufacturing locations worldwide.
The Minnesota Job Creation Fund is a new pay-for-performance program that provides up to $1 million 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.
The program is available to businesses engaged in manufacturing, warehousing, distribution, technology and other eligible activities. Companies must work with the local government (city, county or township) where a project is located to apply to DEED to receive designation as a Job Creation Fund business.
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 our services, visit us at http://mn.gov/deed/ . Follow us on Twitter at twitter.com/mndeed .
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.