St. Paul, MN – On Wednesday, the Minnesota Department of Employment and Economic Development (DEED) announced an award of $625,000 in grants to assist Silk Road Medical Inc. with its first expansion outside of California, in Plymouth, Minnesota.
Representative Ginny Klevorn (DFL-Plymouth) welcomes the expansion and released the following statement:
“I’d like to welcome Silk Road Medical to Minnesota! Plymouth is home to innovation, hard work, and a connectedness we're all proud of within our local business community. I’m grateful to the Minnesota Department of Employment and Economic Development for their partnership in creating good paying jobs, and expanding opportunity in our community via the successful Job Creation Fund and Minnesota Investment Fund.”
The Minnesota Investment Fund provides 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.
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.
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Representative Klevorn encourages all constituents to contact her with input and questions at rep.ginny.klevorn@house.mn or 651-296-5511. Plymouth residents can sign up for her periodic email updates at www.house.mn/44A.