Mercury Mosaics and Tile

Wadena,
MN
(2020)

Mercury Mosaics and Tile

Business Development, Manufacturing, Rural

The NMTC loan proceeds will be utilized to complete tenant improvements at an existing 19,200 sq. ft. warehouse building in Wadena, MN, purchase equipment, and provide working capital.

Investment

NMTC Amount: $655,738
Total Project Cost: $765,000

IMPACT

20 FTE jobs
5 construction jobs
19,200 sq. ft. of real estate

CDEs

Midwest Minnesota CDC

Investor

US Bank

Project Description

The NMTC loan proceeds will be utilized to complete tenant improvements at an existing 19,200 sq. ft. warehouse building in Wadena, MN, purchase equipment, and provide working capital. The company’s existing location in Northeast Minneapolis is land locked and doesn’t offer any possibilities for expansion.

After a two year process involving site visits to four MN communities, a WI community and an Iowa community, the company identified Wadena, MN as its preferred choice for expansion. Wadena, MN is small rural community about 3 hours from Minneapolis.

MAP

Address: 1430 Homecrest Avenue, Wadena, MN 56482

Census Tract: 27159480300

Other Minnesota Projects

Aura Fabricators

Fergus Falls,
MN
(2018)

Business Development, Machine Shops and Metal Fabrication, Manufacturing, Rural

CDE(s): Midwest Minnesota CDC

Provision of a $1,865,000 loan for a metal fabrication company in Fergus Falls, MN.

New Spirit

Mahnomen,
MN
(2023)

FQHCs

CDE(s): Midwest Minnesota CDC

Midwest Minnesota CDC allocated $10M to assist with a portion of the $17.9M development, construction, equipment, and other project costs for a new health center in Naytahwaush on the White

Saint Paul City School, Charter School No. 4029

Saint Paul,
MN
(2021)

Community, Schools, Youth and Families

CDE(s): Midwest Minnesota CDC, University Financial Corp.

A new 65,900 sq. ft. facility will be constructed at the 1.79 acre site, featuring 28 classrooms, 3 flex rooms, 13 pullout spaces for small group learning, music, art, media

University Enterprise Laboratories, Inc.

Saint Paul,
MN
(2018)

Adult Education, College or Vocational Training, Community, Incubator, Manufacturing

CDE(s): University Financial Corp.

UEL provides wet labs, office space, and innovation/collaboration spaces, and expanding their current facility.