Faribault receives $2 million grant for infrastructure improvements
FARIBAULT, Minn. (KEYC) - The Minnesota Department of Employment and Economic Development awards $2 million in grant funding to improve infrastructure in the city of Faribault.
According to DEED, the grant funds will assist in expanding the city’s water main and constructing a water tower to serve an industrial park.
Two companies; Daikin Applied and Trystar are located at the future site of the water tower and expect to add more than 147 full-time jobs in the city.
Private investment in the project amounts to $63 million in the next five years, while the total cost for the public infrastructure project is $5 million.
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