SARTELL (WJON News) -- The City of Sartell has finalized the deal to bring a new manufacturing business to town. Sartell and Niron Magnetics have closed the sale of 79 acres of public property located between Heritage Drive and 2nd Street for the company to build its first-ever full-scale production facility. The city says the over 150,000 square foot plant is the most significant private investment in Sartell since the Verso Paper Mill went through a $300 million expansion in the 1980s. The Sartell City Council approved a business subsidy package that includes infrastructure reimbursements, a portion of waived city fees, and a land write-down to support the purchase and development.

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READ MORE: Sartell Enters Purchase Agreement for Major Development

What has Niron committed to, and what does it mean for Sartell?

Niron Magnetics has committed to 50 full-time jobs within the first two years of operations, a total of 125 full-time jobs within four years, and a minimum 155,000 square foot facility to open by December of 2028. Mayor Ryan Fitzthum says finalizing the deal marks a defining moment in Sartell's economic renewal, and the arrival of Niron represents a bold step forward to help create a new economic engine for the city. Niron Magnetics specializes in the production of rare-earth-free magnets and will break ground on the new facility this fall.

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