Faribault Awarded $2,000,000 Infrastructure Grant By Minnesota Agency

Faribault was the recipient of a two million dollar infrastructure grant to be used towards adding jobs and extending water services and building a new water tower out in the industrial park area of town.

According to a news release from the Minnesota Department of Employment and Economic Development, the grant is for two million dollars and will go towards creating and retaining 525 full-time jobs and preparing Faribault for future growth."

The funds will specifically be used for "extending a water main and constructing a water tower to serve an industrial park where Daikin Applied, Trystar, and other businesses are located. Daikin and Trystar currently employ 283 people and they plan to add more than 147 more full-time jobs in Faribault."  

According to Minnesota's DEED the industrial park has vacant lots where additional businesses are expected to locate and create jobs. Private investment in the park is expected to be $63 million in the next five years.

The project is expected to cost $5 million dollars in total when it is finished.