NextGen RF Design, Inc. of Waseca is considering a move to North Mankato, bringing along 12 full-time employees and looking to expand its services in radio frequency research and product development.
The North Mankato Port Authority on Monday night considered a request for a 300-thousand dollar business subsidy loan to help purchase the property at 2130 Howard Drive and allow for expansion and renovation of the location. The total estimated cost for the project and purchasing the site is just over 1.3-million dollars.
Luke Tholen with NextGen says the 11-thousand 700 square foot facility is slightly larger than their current needs.
“Part of this is because we strongly believe that our growth rate is going to continue. So, we’re on this five to ten-year growth path that we feel presents us a lot of opportunities. Becuase of that, we’re going to ask for any assistance that we can get. The additional funding, or the savings that we would retain, would be used for establishing a scholarship fund and also accelerating our hiring process.”
Tholen estimates that the business will add eight to ten jobs over the next three years. It’s expected that the additional workforce will be made up of Minnesota State University-Mankato and South Central College graduates.
The Port Authority will hold a public hearing on August 20 and consider the business subsidy loan request inside the Council Chambers at 6:30 p.m.