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Council conditionally extends job-creation deadline for Nextern Inc. under Minnesota Investment Fund
Summary
Following a public hearing with no public testimony, the council approved an extension request for Nextern Inc.'s MIF loan performance deadline, citing the company's hiring pipeline and planned production transfer; approval is subject to DEED review.
City staff presented a request from Nextern Inc. (NG Top Holdings, LLC) to extend the deadline under its Minnesota Investment Fund (MIF) forgivable loan agreement. Under the original agreement the company was required to maintain a baseline of 188 employees and create 75 new high-quality jobs (total 263) by July 31, 2026; as of May 31, 2026 Nextern reported 193 employees and outlined active recruitment, pending offers and potential conversion of contracted positions.
Assistant Community and Economic Development Director Jesse Anderson said staff view the company’s pipeline and planned production transfer to Maple Grove (expected over 12–18 months, potentially adding about 20 full-time positions) as a good-faith effort to meet the goals. The council approved an extension for Nextern Inc. to meet its MIF job creation requirements, subject to approval by the Minnesota Department of Employment and Economic Development (DEED).
