HomeMy WebLinkAbout3. Sweet Harvest Foods MemoCity of Lakeville
Community & Economic Development
Memorandum
To: Economic Development Commission
From: Tina Goodroad, Community Development Director
Copy: Kati Bachmayer, Economic Development Coordinator
Justin Miller, City Administrator
Date: April 25, 2023
Subject: Sweet Harvest Foods
Sweet Harvest Foods (leading all-natural sweetener processor in the US) is currently
leasing 100,000 sq ft in the Launch Park 3rd Addition warehouse facility and have outgrown their space. They also have facilities in Cannon Falls and are leasing temporary
space Inver Grove Heights. Sweet Harvest Foods signed a lease with Oppidan to construct a 360,000 sq ft office, warehouse, and manufacturing facility in the KTJ First
Addition located off Cedar Avenue immediately south of 215th Street. This will provide space to consolidate and expand warehousing and manufacturing while creating space
for corporate offices in this new Lakeville location. The site also supports 40,000 sq ft for future expansion.
Sweet Harvest Foods is requesting support and application assistance for two DEED
programs, the MN Investment Fund (MIF) and Job Creation Fund (JCF). The MIF provides loans to businesses that create or retain high-paying, full-time permanent jobs, and
invest in machinery or real property acquisition or improvements. Lakeville will submit the application (with assistance from the business) and be responsible for reporting job
creation. MIF funds will be provided to the city, and we enter into a loan agreement with Sweet Harvest Foods. We are anticipating a $300,000 forgivable loan award. The
program requires a public hearing by the City Council and resolution of support.
The JCF program provides job creation awards and capital investment rebates to businesses that retain or create high-paying, full-time permanent jobs and invest in real
property improvement. We are anticipating a $175,000 forgivable loan award. This program requires resolution of support by the City Council.
Action Requested: We request recommendation of support to the City Council for the
MIF and JCF applications on behalf of Sweet Harvest Foods.