Shakopee City Council Approves Economic Development Incentives
- Mar 20, 2012
Shakopee City is set to welcome two new companies that will bring hundreds of jobs to town after the city council approved economic development incentives for SanMar Corp. and Trystar Inc., the Minneapolis / St. Paul Business Journal reports.
SanMar Corp., an imprintable-clothing supplier, will invest $35 million to build a 580,000-square-foot distribution center. The Shakopee city council approved $1.5 million in tax increment financing for the Issaquah, Wash.-based company. The facility will be built on a vacant 45-acre site near Canterbury Park, which was acquired from Opus Group for around $5.3 million. The company plans to employ around 150 in the first two years and eventually reach 300 to 350. SanMar is planning to break ground on the new warehouse before July.
Trystar Inc., a manufacturer of products that provide temporary power to job sites and special events, has also received approval for a $1 million tax abatement to relocate its operations from Faribault to a new 179,000-square-foot warehouse in Dean Lakes. The company bought a 28-acre site along Highway 169 and Cantebury Road from Ryan Cos. U.S. Inc. and will build a $15 million manufacturing facility.
The company plans to consolidate its operations in Shakopee, where the new headquarters will be 50 percent larger than its three current facilities combined. Construction work is planned to start in the summer of 2013, and the ribbon cutting ceremony is expected in the fall of 2014. The company will employ around 80 people, although the number could reach 180 in a couple of years.
CEO & chief development officer of Anderson-KM Builders Kent Carlson offered assistance in the site search and will also provide development services to Trystar. The project architect is St. Paul-based Pope Associates Inc.
Photo Courtesy of: www.sanmar.com