Minnesota news source reports Valley Cartage to move headquarters to lake Elmo
Finance & Commerce, a daily Minnesota business news source, has reported that Hudson-based Valley Cartage plans to move its headquarters from Hudson to Lake Elmo. Finance & Commerce reporter Chris Newmarker said the move will come because of a $940,000 economic development package.
The news source reported that Valley Cartage president and CEO Todd Gilbert said the company is purchasing a 26,000-square-foot building, at 8665 Hudson Blvd., just northeast of an Interstate 94 interchange and on the edge of the Eagle Point Business Park.
The company currently has about 240 employees in various locations in Wisconsin and Minnesota. Finance & Commerce reported that about 50 executives, logistics supply chain and customer service workers will eventually occupy more than 12,000 square feet of the Lake Elmo Building.
Gilbert said the company will continue to occupy the 60,000-square-foot building at the St. Croix Business Park in Hudson. He said the company simply needed more space. Lake Elmo city administrator Dean Zuleger said Minnesota Gov. Mark Dayton traveled to Hudson last month to persuade Valley Cartage officials to choose Minnesota.
Finance & Commerce reported that the Minnesota Department of Employment and Economic Development is providing $500,000 from the Minnesota Investment Fund and $400,000 from the state's Job Skills Partnership program to support the move, according to DEED documents obtained by Finance & Commerce. The Lake Elmo City Council last month approved a four-year, $20,000 property tax abatement, and Washington County commissioners are expected to vote on an additional $20,000 abatement next month.