Digi-Key Secured $300 Million for Expansion Plan
8 June, 2017
Digi-Key Electronics plans to create over 1,000 new jobs and build a 1,000,000 square foot building in Thief River Falls, Minnesota
Digi-Key Electronics has announced its future plans to create over 1,000 new jobs and build a 1,000,000 square foot building expansion. The new facility will be located adjacent to its current headquarters in Thief River Falls, Minnesota. The announcement came following an agreement with the government, that helped to secure $300 million budget for the expansion program. Dave Doherty, Digi-Key’s President and Chief Operating Officer said that huge cost and competitive hurdles needed to be overcome compared to other location options, “but the State of Minnesota and local Thief River Falls and Pennington County leaders took decisive action to support our growth.”
Kevin McKinnon, Deputy Secretary at the Minnesota Department of Employment and Economic Development, on behalf of Governor Mark Dayton, helped craft the initial legislative solution legislative solution to help Digi-Key. Governor Dayton said, “I am extremely grateful to Digi-Key for its commitment to Minnesota and the Thief River Falls community. I congratulate Digi-Key on its planned expansion, which will create over 1,000 new jobs in Thief River Falls. Digi-Key is truly a fantastic success story.”
Digi-Key estimates the economic return for the state of Minnesota will be approximately $184 million in new annual state revenue, or almost $2 billion over 10 years generated by Digi-Key’s expansion in addition to the 1,000+ new jobs that will be created. Brian Holmer, Mayor of Thief River Falls, stated, “Our community worked hard to ensure Digi-Key’s project will be located here because as Digi-Key expands its global reach, it creates good jobs in Greater Minnesota”.
“We want to extend a huge ‘thank you’ to state legislators, community leaders, and countless others who have helped us achieve this milestone in our expansion project,” said Rick Trontvet, Digi-Key Vice President of Administration and Human Resources.
About Digi-Key Electronics
Digi-Key Electronics, based in Thief River Falls, Minn., is a global, full-service distributor of both prototype/design and production quantities of electronic components, offering more than five million products from over 650 quality name-brand manufacturers. With over 1.3 million products in stock and an impressive selection of online resources, Digi-Key is committed to stocking the broadest range of electronic components in the industry and providing the best service possible to its customers.