Port Authority approves loan to NextGen RF Design for assistance in relocating to North Mankato

By |2018-08-21T13:02:08-05:00August 21st, 2018|

A radio frequency research and product development company based in Waseca is moving to North Mankato and the business says it will open doors for new opportunities. The North Mankato Port Authority approved a business subsidy loan of 300-thousand dollars on Monday night to NextGen RF Design, Inc. Members approved the loan to be repaid over 15-years with an interest rate of 4-percent. Equity and bank loans will help cover the rest of the project, which is estimated at 1.3-million dollars to purchase the building at 2130 Howard Drive and make necessary improvements. CEO Luke Tholen says they plan to move [...]