Initiative Foundation Helps Fund Construction Of A 165,000-Square-Foot Barrett Petfood Innovations
The Initiative Foundation has joined other local lenders to help fund construction of a 165,000-square-foot Barrett Petfood Innovations (BPI) manufacturing facility in the Little Falls Chief Hole-in-the-Day Industrial Park.
The $20 million financing package will fund construction as well as the acquisition of equipment for the company’s second location at 15657 18th Street NE, Little Falls.
BPI’s headquarters and initial manufacturing plant is located on Minnesota Highway 25 south of Brainerd, where the company will continue to employ 100-plus people. The expansion into Little Falls is expected to add 60 to 100 new jobs to the local economy over the next three years.
“A project like this is great to get behind because there’s so much upside, Barrett has a good track record of manufacturing innovation and success, and the opportunities for job creation could easily exceed early estimates,” said Dan Bullert, business finance manager at the Initiative Foundation.
“In fact, as new markets are opened and developed, this expansion could create as many as 300 jobs. That’s great for the local economy and great for the families that call this region home,” said Bullert.
On average, the jobs will pay $15 per hour and come with full benefits. Construction is scheduled for completion in June 2020.