Stewartville, MN Is Awarded $150,000 CEDA-Authored Minnesota Investment Fund Grant for Expansion of Local Manufacturer

Article by: Joya Stetson
CEDA team member Joya Stetson recently authored and was awarded a $150,000 Minnesota Investment Fund (MIF) grant from the Minnesota Department of Employment and Economic Development (DEED) for the City of Stewartville, MN.  This grant was authored for a proposed expansion project at GEOTEK, a designer, manufacturer and distributor of reinforced fiberglass pultrusion products headquartered in the City.  GEOTEK currently employs over 370 individuals in the community.
This important project will create 18 jobs over two years and retain numerous positions; these positions boast competitive wages and diverse opportunities in manufacturing, management and engineering. Furthermore, the project will substantially increase the tax base in the community through the construction of a ~65,000 square foot addition.
The project comes on the heels of a significant recent expansion investment made by GEOTEK last year.  In 2018, the Company purchased and renovated a 65,894 square foot vacant building in the City and created more than 100 jobs.  GEOTEK was also awarded CEDA-authored MIF and Job Creation Fund (JCF) grants totaling $350,000 through DEED for this previous project.