St. Cloud EDA Approves Loan for New Flyer Expansion [AUDIO]
ST. CLOUD – New Flyer is planning to expand, and is looking for financial support from local governments.
The nearly $5 million project would add 12,000 square feet to the St. Cloud facility, and add 136 new jobs in the next two years.
St. Cloud Economic Development Director Cathy Mehelich says they also plan to redevelop some of their production lines for a new line of buses.
Today (Wednesday) The St. Cloud Economic Development Authority Board unanimously approved a $100,000 no-interest loan from the City Revolving Loan Fund. New Flyer is also seeking a forgivable $1 million no-interest loan from the state, and a $250,000 no-interest loan from Stearns County.
Mehelich says, if all three go through, they plan to break ground on April 1st, and will start production in October.
New Flyer currently has about 530 employees.