Long-delayed Elk Run biotech development may get first tenant

An unnamed firm appears to be interested in building a 200,000-square-foot building at the long-delayed biotechnology business park north of Rochester. The Star Tribune reports the company would bring roughly 200 biotech jobs to Pine Island after the first phase of construction. Project officials hope to break ground early next year. City administrator for Pine Island told the Minneapolis-based newspaper that he is cautiously optimistic.

Author:: BMTN Staff
Publish date:: Oct 11, 2012

An unnamed firm appears to be interested in building a 200,000-square-foot building at the long-delayed biotechnology business park north of Rochester. The Star Tribune reports the company would bring roughly 200 biotech jobs to Pine Island after the first phase of construction. Project officials hope to break ground early next year. City administrator for Pine Island told the Minneapolis-based newspaper that he is cautiously optimistic.

The Business Journal notes this is not the first interested tenant, but those deals have not gone through.

Elk Run's developer, California-based Tower Investments, first proposed the $1 billion biotech campus in southeast Minnesota five years ago. The project has had several false starts and missed deadlines since then.

Tower Investments also owes more than $740,000 in back property taxes and penalties, which must be paid before moving forward with any construction.

DONTCHA KNOW?

BMTN Newsletters Deliver The Biggest MN Stories

Get Our Newsletter

53f5780d38bbfc56be2d92bce8d8d3c2_f275

The senior living facility was evacuated on Saturday.

mn-state-park-glacial-pothole

For the fourth year in a row, state parks will be free on Black Friday.

AP Images DO NOT REUSE --Minneapolis skyline

A new report says the metro area is "highly segregated by race."

hunting, shotgun shells

He was in a group of small game hunters when he was shot.

Vacation family beach

The day after Cyber Monday, Travel Tuesday has some of the best vacation deals of the year.

high school football

Four teams are one win away from repeating as state champs.

Jayme Closs

The 13 year old has been missing for more than a month now.

Zach Parise

It was the 341st goal of Parise's career.

Strawberry reservoir

The 24 year old went camping a week ago with a local woman, who is still missing.

Screen Shot 2018-11-17 at 4.58.29 PM

Music and Radio

The hip hop star joined the likes of Childish Gambino and Ariana Grande on the list.

Screen Shot 2018-11-17 at 2.12.02 PM

Minnesota needs to beat Wisconsin next week to become bowl eligible.

Screen Shot 2018-11-17 at 12.48.18 PM

Roads were covered in snow and ice at the time of the crash.

Finance & Commerce reports the California-based Tower Investments owes more than $740,000 in back property taxes and fines. For the past six years, Tower has been pushing a major biobusiness park on a former elk farm in southeast Minnesota, but nothing has happened on the site since 2010. Tower's senior vice president claims the taxes aren't paid because Tower is in the midst of appealing its property taxes with Olmsted County.

Presidential candidate Michele Bachmann says she’s in the campaign for the long term. The day after the latest GOP candidate debate Bachmann insists the race consists of more than front-runners Rick Perry and Mitt Romney. Bachmann is skipping the Florida straw poll, saying the balloting there is too narrow.

The proposed store would be the fifth location the Minneapolis-based discount retailer has on the Hawaiian Islands. Pacific Business News reports the 136,500-square-foot store will be the anchor of a new shopping center in Central Maui and could open in 2014.

County officials want to improve sidewalks along county roads to encourage more walking, the Star Tribune writes. A draft plan is expected to be ready early next year, but, the county has already set aside $200,000 this year to begin building safer sidewalks and crossings.

Minnesota Department of Transportation Commissioner Thomas Sorel is leaving the 5,000-worker agency that he has guided since April 2008, and on Dec. 1 will become the new leader of AAA Minneapolis, a 200,000-member auto club.

The Twins won a $200,000 grant from Pepsi to build the state-of-the-art field that will feature specialized turf. It will be the state's first accessible softball field for competitive wheelchair play once its completed next summer.