News Releases for May 2005
May 10, 2005
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State, City Work Together For Cirrus Design Expansion
BISMARCK, N.D. - Gov. John Hoeven today commended the Grand Forks Region Economic Development Corp., the community of Grand Forks and state developers for working cooperatively with Cirrus Design for the company’s expansion. Cirrus Design, one of the world’s leading manufacturers of light aircraft, recently announced it will expand operations in Grand Forks.
The state of North Dakota has committed $7.5 million in loans and services from the Bank of North Dakota, a private lender, the North Dakota Development Fund and Job Service North Dakota for the expansion of Cirrus Design in Grand Forks. The state and local development package totals $9.7 million, with a $2.27 million loan from the city of Grand Forks’ Growth Fund.
The Duluth-based company will expand its plant by 140 percent, from the current 93,000 square feet to 160,000 square feet. This could add up to 350 jobs over the next few years, with an annual payroll of about $16 million.
“Cirrus Design - with a high tech product and good paying jobs - exemplifies just the kind of advanced manufacturing company we’ve targeted for growth in North Dakota,” Hoeven said. “The company’s success is a reflection of the quality of its product, which is itself a reflection of the quality of the people who work for it. Our plan is to see a cluster of aviation industry companies, like Cirrus, forming around Grand Forks, attracting suppliers and related industries, producing not only jobs, but careers for our citizens.”
Klaus Thiessen, president and CEO of the Grand Forks Region Economic Development Corp., said, “The Governor’s support here was critical. We asked him to call Cirrus and that was extremely important to the company. The real message here is that it’s a team effort. It’s the city and state putting their best foot forward, and that sends a strong message to business that the Governor and city officials work hand in hand to get the deal done.”
“This was a wonderful exercise in economic development done right, an amazingly efficient process,” said Bill King, vice president of business administration for Cirrus Design Corp. “The Governor was instrumental in helping us pull together state and local resources to make the project happen. The North Dakota Economic Development model is like no other in the country- simple and straightforward.”
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