DEED Developments










*Thursday Highlights from Minnesota?s Business Development Mission to Japan*

by Commissioner Matt Varilek

We spent the last full day of our business development mission meeting with several Japanese companies that operate in Minnesota, making today's agenda one that underscores the importance of the relationship between our state and this country.

First we joined Kanomax, Inc., a manufacturer of precision electrical measurement equipment that operates a subsidiary in White Bear Lake. We thanked the company for their ongoing investment in our state through that subsidiary, Kanomax FMT, which specializes in research and development, sales and manufacturing.

Kanomax Inc. Meeting

Our next stop was Yanmar Holdings, a diesel engine, heavy machinery and agricultural machinery manufacturer that operates in Grand Rapids. Yanmar recently broke ground on a $10 million, 32,000 square foot expansion, adding production capacity and about 200 new jobs. We congratulated them on their expansion ? and their?2022 Governor's Trade Award [ [link removed] ]!

Yanmar Holdings Meeting

We then visited Nidec Corp., the world's largest engine manufacturer and owner of Kato Engineering, a North Mankato generator manufacturer. We discussed Nidec's supply chain for magnets and other raw materials, and possible opportunities for Nidec's products to support industrial decarbonization in pursuit of Minnesota's climate goals.

Kanomax, Yanmar and Nidec are three of nearly 50 Japanese companies operating in Minnesota. In total, all these companies have invested nearly $2.1 billion in Minnesota and generate 10,800 jobs.

Minnesota's economic relationship with Japan creates good jobs and spurs investment across the state. I believe this business development mission has fostered even closer ties with this important ally.

To that end, one of the final events on our trip was a Minnesota Luncheon with the Osaka Chamber of Commerce and Industry. In front of a crowd of business leaders, Governor Walz, Lieutenant Governor Flanagan and I shared the good news about Minnesota's economy ? our?nation-leading business climate [ [link removed] ], our?skilled and growing workforce [ [link removed] ]???before being joined by our partners who traveled with us on this mission.

Leading Minnesota economic development agencies, including Destination Medical Center, the Medical Alley Association, and Greater MSP, discussed the business opportunities Minnesota presents for Japanese companies. Local elected officials, including the mayors of Bloomington, Brooklyn Park and Stillwater, shared their experiences and strategies working directly with Japanese businesses who have operations in their cities.

Mayor's Luncheon

This has been a meaningful and productive trip for Minnesota workers, communities and companies looking to do business with our friends in Japan and around the world! As we return home from my first international business development mission as DEED commissioner, I'm reminded of the great opportunity for Minnesota to be a leader in the global economy. And I'm more committed than ever to helping DEED build a Minnesota economy that works, for everyone.

###

"
DEED Developments Blog [ [link removed] ]"

"Subscribe [ [link removed] ] to receive more information from DEED."





________________________________________________________________________

Minnesota Department of Employment and Economic Development

?

Questions??Contact Us [ [link removed] ]

Sign up for email updates [ [link removed] ] ? Follow us on Twitter [ [link removed] ] ? Sign up for email updates [ [link removed] ]

Bookmark and Share [ [link removed] ]

SUBSCRIBER SERVICES:

Manage Preferences [ [link removed] ] ?|? Unsubscribe [ [link removed] ] ?|? Help [ [link removed] ]

"DEED is an equal opportunity employer and?program?provider."


________________________________________________________________________

This email was sent to [email protected] using GovDelivery Communications Cloud on behalf of: Minnesota Department of Employment and Economic Development ? 332 Minnesota Street Suite E-200 ? Saint Paul, MN 55101?? (800) 657-3858 GovDelivery logo [ [link removed] ]