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Medtronic Expansion In Legislative Limbo

NEW BRIGHTON, MN-State lawmakers adjourned without passing changes to tax increment financing law necessary for the medical device maker's plans to build a 560,000-sf first phase facility that could eventually mean 1.5 million sf in construction.

By Jim McCartney | Updated on May 26, 2004

NEW BRIGHTON, MN-State lawmakers may have hurt efforts to convince Medtronic to expand on a parcel near the intersection of Highways 694 and 35W. Both parties were blaming each other after the legislative session adjourned with no decisive action on the Medtronic bid to get some changes in tax increment financing law that would allow them to phase their expansion.

It’s got some legislators talking about the need for a special session this summer to get the work done. Meanwhile, Medtronic officials confirm plans to add another 2,000 jobs and build new quarters for them, but added the city is one of several expansion options the company is considering.

A bill to provide $20 million in tax increment financing to help prepare the way for Medtronic to make a major expansion in the city had made progress in both bodies. The Senate version was authored by state Sen. Satveer Chaudhary (DFL-Fridley) and would allow the city until 2013 to create various tax increment financing districts rather than the usual five-year window. The flexibility will help it extend the tax increment period to help pay for later phases as they occur.

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