Proto Labs Gets Corporate Welfare Money From Taxpayers For Brooklyn Park Building

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“ST. PAUL – Custom manufacturer Protolabs Inc. will invest $29.9 million to expand to a new site in Brooklyn Park.

The Maple Plain-based company has purchased a 152,000-square-foot building in Brooklyn Park and plans to add another 50,000 square feet to the structure. The investment also includes additional manufacturing equipment to support anticipated future growth. Company officials said they will move their CNC machining operations from Plymouth to the new site, while retaining the Plymouth facility for their injection molding operations.”

The expansion will allow Protolabs to create 139 new jobs, with the new location ultimately housing more than 350 employees.

The Minnesota Department of Employment and Economic Development (DEED) is supporting the project with an $850,000 grant from the Job Creation Fund. The company will receive the funding once it has met investment and hiring goals.

“I thank Protolabs for expanding its operations here in Minnesota and creating nearly 140 new jobs for Minnesotans,” said Governor Mark Dayton. “This is exactly the kind of business success the Minnesota Job Creation Fund is designed to support, and yet another testament to the strength of our state’s hard-working, highly-skilled workforce.”

“Protolabs’ expansion will enable the company to respond to increasing customer demand worldwide for custom-machined products,” said DEED Commissioner Shawntera Hardy. “The company is growing rapidly thanks to a successful business model that emphasizes quality and speed.”

Protolabs, founded in 1999 by Larry Lukis, manufactures custom prototypes and on-demand parts for customers in 160 countries and on six continents. Customers include medical device, electronics, appliance, automotive and consumer products firms.

The company, which has annual revenue of $344.5 million (2017), has 12 manufacturing facilities worldwide, including seven in the United States. Protolabs workers produce over 3 million custom parts every month.

The Job Creation Fund, which was first proposed by Gov. Mark Dayton in 2013, is a pay-for-performance program that provides funding to businesses after they meet certain criteria, including minimum requirements for job creation and private investments. Under the program, businesses must create at least 10 full-time jobs and invest at least $500,000 to be eligible for financial assistance in the Twin Cities metro and create at least five full-time jobs and invest at least $250,000 in Greater Minnesota.

Since the Job Creation Fund was launched in January 2014, DEED has awarded nearly $37.5 million for 82 business expansion projects in Minnesota. Companies have committed to creating nearly 5,200 full-time jobs and investing more than $1 billion to expand.

Go to the DEED website for more details about the Job Creation Fund.

DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website or follow us on Twitter.

About Protolabs Protolabs is the world’s fastest digital manufacturing source for rapid prototyping and on-demand production. The technology-enabled company produces custom parts and assemblies in as fast as one day with automated 3D printing, CNC machining, sheet metal fabrication, and injection molding processes. Its digital approach to manufacturing enables accelerated time to market, reduces development and production costs, and minimizes risk throughout the product life cycle. Visit protolabs.com for more information.
Permalink: http://mn.gov/governor/newsroom/index.jsp?id=1055-335718
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