Valspar Announces $30M Campus Renovation, Expansion; St. Paul Reopens Ballpark Builder Selection Process
- Oct 29, 2012
The Valspar Corp. announced plans to renovate its former headquarters building and expand its research-and-development campus in downtown Minneapolis. The campus is the anchor of the company’s research-and-development network worldwide, known as the Valspar Applied Science and Technology Centers (VAST). According to Dr. Cynthia Arnold, senior vice president & chief technology officer for Valspar: “The expanded campus will enable research and development at the highest level, as well as create the right environment for customer and supplier collaboration for new coatings technologies.”
The company, one of the largest global coatings manufacturers in the world and one of Minneapolis’ oldest global companies, dating all the way back to 1806, will invest $30 million in the project, which is expected to create as many as 135 full-time jobs over the next two years, including high-paying material science jobs. Gary Hendrickson, chairman & CEO of Valspar, said: “We will devote more resources toward developing differentiated coatings technologies to address the changing needs of our customers. Our scientists and researchers will have access to a best-in-class facility to more quickly and efficiently bring these solutions to market.”
In other local real estate news, The Minneapolis / St. Paul Business Journal reports the city of St. Paul has reopened the selection process for the new $54 million St. Paul Saint’s ballpark. The announcement comes after a series of questions from the news media and a lawsuit filed by the Taxpayer League of Minnesota, questioning why the selection process didn’t incorporate a competitive bidding. The city initially announced that the design-build services for the project, planned for the Lowertown area of St. Paul, would be awarded to Ryan Cos. US Inc. The Minneapolis-based company has already carried out pre-design work on the project for the city and declared its disappointment in the redefining of the selection process at such a late stage. The new selection process, which is expected to last 120 days, will create certain delays, but Mike Hahm, St. Paul’s Parks and Recreation director, is confident the park will be ready by opening day in May 2015.
Photo Courtesy of: www.valspar-asia.com