AUSTIN, Minn. (KTTC) -- A new manufacturing facility is expected to open next year in Austin, providing dozens of jobs to the community.
Nu-Tek BioSciences, based in Minnetonka, makes industrial ingredients used in the pharmaceutical industry. One of the company's products is being used to create a COVID-19 vaccine.
It's receiving some help from the state to expand to Austin. The Minnesota Department of Employment and Economic Development (DEED) is loaning the company $325,000. DEED is also providing a $175,000 grant through the Job Creation Fund, according to an emailed news release.
“Nu-Tek’s expansion is a testament to how attractive it is to operate a business in Minnesota,” DEED Commissioner Steve Grove said. “This shows how even in difficult economic times there is a path for business to thrive in the state.”
The facility will bring 35 new jobs to the community over the next two years. Construction for the new facility at Creekside Business Park is set to begin this spring.
"The core of our business is manufacturing and this investment underscores our commitment to the Austin community and building long-term businesses in the state of Minnesota,” Nu-Tek CEO Thomas Yezzi said.
In a separate news release from Nu-Tek, the company said it will be "the first dedicated, animal-free peptone, and protein hydrolysate manufacturing facility in the U.S."
According to the release, the plant will help Nu-Tek meet the "rapidly growing demand" for materials used to make biologics.