'We Didn't Achieve Our Ranking As Top State For Business By Accident,' Says Tim Walz – Announcing $5 Million Business Expansion In Minnesota

Minnesota Governor Tim Walz, the Democratic running mate alongside Kamala Harris, recently announced a $5 million investment to support significant business expansion in the state of Minnesota. These initiatives are expected to create 175 new jobs and attract $72 million in outside investment — particularly in key industries like healthcare and medical technology. 

"We didn't achieve our ranking as a top state for business by accident. We earn that reputation by investing in business expansion, supporting innovation and driving business growth," said Governor Walz. His remarks highlight the state's ongoing commitment to creating a robust economic environment. 

Don't Miss:

• A billion-dollar investment strategy with minimums as low as $10 — you can become part of the next big real estate boom today.

The $5 million investment is planned to go toward three companies: Baxter Healthcare Corporation, LISI Medical Remmele, Inc. and Simpli-Fi Automation, Inc. 

Trending:

• General Motors and other leaders revealed to be investing in this revolutionary lithium start-up — allowing easy entry by launching at just $9.50/share with a $1,000 minimum.

Baxter Healthcare Corporation will receive $1.84 million from the Job Creation Fund (JCF) and $1.37 million from the Minnesota Investment Fund (MIF) to establish a new research and development center that will support kidney care. The total expansion cost is $40.7 million and is anticipated to create 70 new jobs. 

LISI Medical specializes in implants and tools for minimally invasive surgery and other major surgeries like orthopedic, spinal and trauma. This business expansion will contribute $550,000 from MIF, and it will grow this facility by about 45,000 square feet, creating 30 more jobs within the first three years. 

Simpli-Fi Automation will receive $268,000 from JCF and $1 million from MIF to assist in the development of a 7,500-square-foot facility for creating advanced materials used in health and environmental sensors that improve patient care and help monitor environmental conditions. This part of the expansion is anticipated to create or retain 75 jobs over the next three years. 

Read Next:

• Groundbreaking trading app with a ‘Buy-Now-Pay-Later' feature for stocks tackles the $644 billion margin lending market – here’s how to get equity in it with just $100

"Minnesota is one of the best places for businesses of any size to break ground, build and expand," said DEED Commissioner Matt Varilek. He noted that the success of these programs is a testament to the state's commitment to fostering a dynamic and supportive business environment.

The state's strategic investments in business expansion underscore the economic priorities that Governor Walz holds and will continue to value in his role as Vice President of the United States, should the Democratic party win the election. He supports industries like medical technology, construction and green energy and continues to drive economic innovation in Minnesota. 

As Minnesota continues to invest in its business community, it remains clear that the state's economic success is the result of deliberate and well-planned strategies. Governor Walz's announcement of the $5 million expansion initiative is just one example of how Minnesota is building a future where businesses can thrive, creating good-paying jobs and driving economic growth across the state.

See Also:

• Amid the ongoing EV revolution, previously overlooked low-income communities now harbor a huge investment opportunity at just $500.