Emerson Process Management, a major division of St. Louis-based Emerson Electric Co., confirmed plans to buy a 500,000-square-foot building in Shakopee left empty by ADC Telecommunications more than a decade ago, the Business Journal reports. The growing engineering firm expects to add 500 jobs over the next five years when it converts part of property into an engineering and manufacturing center.
The Star Tribune says Emerson will invest $70 million to turn the abandoned industrial site into the global headquarters for the company's Rosemount measurement technologies business.
“Our continued investments in innovation, combined with growing energy markets around the world, have fueled the need for more office and manufacturing space to meet the increasing demand for our products and services,” Steve Sonnenberg, president of Emerson Process Management, said in a statement, according to Shakopee Valley News. “We are delighted to expand our operations here in Minnesota, which not only offers a quality workforce and excellent business climate, but also already serves as a major hub for Emerson in North America.”
“We are deeply grateful to Emerson Process Management for its decision to invest further in Minnesota and create hundreds of new jobs here," added Gov. Mark Dayton in a news release. "Thank you again to Emerson, and congratulations to everyone in Shakopee, who worked so hard to make it possible.”
Emerson first announced its potential expansion plans last December.