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Dayton EDA backs forgivable loan/grant support for States Manufacturing expansion
Summary
The EDA voted to support States Manufacturing's application for a $1.45M Minnesota Investment Fund forgivable loan and a $1.35M Job Creation Fund award to help a proposed $23.5M expansion expected to create about 350'400 jobs; the request will go to a special City Council meeting Oct. 29 for a public hearing.
Wyatt Shellbetter, identified himself as CEO of States Manufacturing, told the Dayton EDA the company plans a major expansion and is requesting the city serve as administrator for state funds: a $1,450,000 Minnesota Investment Fund (MIF) forgivable loan and a $1,350,000 Job Creation Fund (JCF) award.
Shellbetter said the expansion is not a relocation but an increase in capacity, describing plans…
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