Intek Plastics' Site Plan

The City Council approved Intek Plastics’ site plan application for their 60,200 square-foot expansion during their Oct. 17 meeting.

Intek Plastics, a plastics extruder that has been headquartered at 1000 Spiral Blvd since 1985, will be building onto the rear of their existing 127,000 square feet site. The expansion, estimated to cost approximately $8 million, will increase Intek’s manufacturing and warehousing capacities and is expected to create 46 full-time jobs with an average hourly rate of $32.54 plus benefits.

Also included in Intek’s development project is the purchase of 3.1 acres from the City. The sale of the land, which is located adjacent to Intek’s existing facility, has already been unanimously approved by the Hastings Economic Development and Redevelopment Authority and will be addressed by the City Council at their Nov. 7 meeting.

Hastings Community Development Director John Hinzman explained the reasoning for the impending land transfer.

“That transfer is necessary for a couple of things; one, for stormwater drainage for this existing facility and potentially further expansion in the future, as well as a roadway connection over to Enterprise Ave,” Hinzman said. 

In order to fend off interest from a suitor in Ohio and help secure Intek’s foothold in Hastings, the City partnered with Intek Plastics and the GreaterMSP Regional Partnership and applied for and received funding from the State of Minnesota’s Minnesota Investment Fund (MIF) and Job Creation Fund (JCF). These funds, amounting to a little over $1.4 million, will be drawn from business attraction and retention programs operated by the State of Minnesota’s Department of Employment and Economic Development.

“The City is appreciative of these State programs, which were included in Governor Walz’s budget and supported by our local legislators, as they increase the competitiveness of our City and State on the national stage,” Hastings Economic Development Coordinator Eric Maass said.

$450,000 of the funding comes from a JCF “pay for performance” program, which means those funds will be provided to the business in the form of a rebate once the new full-time jobs are created. The MIF funding, totaling $975,000, is in the form of a loan, which will be repaid over a period of 7 years at 1% interest. The City will retain $100,000 of the loan repayment to use as seed funding for the City of Hastings revolving loan fund for future economic development projects.

“Intek has been a great company for Hastings. We are thrilled that Intek Plastics has chosen Hastings for its expansion and look forward to our continued partnership on job creation,” Hinzman said.

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