HELPING A HIGH TECH COMPANY FLOURISH IN RURAL MINNESOTA

MN STAR Technologies, Inc.
Grand Rapids, Minn.

Situation:

MN STAR Technologies, Inc. designs and builds wiring harnesses for O.E.M. equipment manufacturers such as auto and heavy equipment manufacturers. With recent strong sales growth, MN STAR’s manufacturing needs exceeded the capacity of its buildings. Expanding would allow MN STAR to continue growth and efficiencies so it could better compete globally.

Solution:

Since Grand Rapids is in a Minnesota JOB Z county and an eligible New Markets Tax Credit census tract, the Minnesota Community Capital Fund (MCCF) and CRF partnered to loan MN STAR Technologies $203,058 of the overall $1.4 million project. The project helped the company continue its growth by enlarging their larger manufacturing facility and purchasing automated equipment. 

Benefits:

Because MN STAR Technologies was able to expand and plan for continued growth, the company can stay competitive with foreign competition. As a result of its expansion, the company recently reported a 23 percent increase in sales. By strengthening the manufacturing base and the suppliers who do business with the base, MN STAR’s growth helps strengthen the rural economy and continues employment for 74 people.