The South St. Paul Economic Development Authority was awarded $800,000 on Tuesday to redevelop a former landfill and water treatment plant right into a 182,000-square-foot industrial constructing.
The redevelopment grant, awarded by the Minnesota Department of Employment and Economic Development, will go toward public infrastructure and ponding of the 15-acre Wakota Crossing industrial site, based on a department news release.
The Wakota Crossing project, situated southwest of the Wakota Trailhead and near the intersection of U.S. Interstate 494 and Hardman Avenue, is anticipated to create 38 jobs and retain 34, based on DEED. It’s also expected to extend the property tax base by $528,491 and leverage $22.2 million in private investment.
The redevelopment grants are intended to assist communities with the fee of redeveloping industrial, residential or business sites and might be used to assist cover the fee of services like public land acquisition, constructing and site demolition, infrastructure improvements and soil stabilization.
The grant program has awarded $83 million across 247 grants since its start in 1998. Projects funded by the grant program have created or retained 31,000 jobs and leveraged greater than $3.7 billion in private investment, based on DEED.