The Valspar Corp., a maker of paints and industrial coatings, plans to spend $30 million to expand its research and development campus at its former headquarters building in downtown Minneapolis, the Pioneer Press reports. The project is expected to create up to 135 new full-time jobs over the next two-years. It will also add 87,000-square-feet of laboratory, meeting and office space. The expansion is scheduled to be finished by early 2014.
You can read the company's news release here.
Click here, to follow Valspar's stock performance.
3M Co. is also working on plans for a new research and development site at its Maplewood headquarters. Medina-based Polaris Industries broke ground last month on an expansion project that will double its research and development space in Wyoming, Minn.