Coon Rapids’ largest private employer is planning another expansion at its Evergreen Business Park location.
It received Coon Rapids City Council backing June 18 when the council approved a resolution supporting an application for economic development funding from the state of Minnesota.
A subsidiary of Elk River-based Cretex Companies Inc., RMS manufactures machined and molded components for the medical device and aerospace industries, according to Matt Brown, city economic development coordinator.
RMS built its plant in Coon Rapids in 1992, completed expansion projects in 1998, 2006, 2011 and 2016, and currently has 921 employees, Brown told the council.
The new expansion project proposes a 60,000-square-foot addition of manufacturing space to its 275,000-square-foot Evergreen Boulevard location, he said.
The addition has an estimated cost of $7 million and RMS is anticipating purchasing at least $57 million in equipment, according to Brown.
The city will submit the funding application, on behalf of RMS, to the Minnesota Department of Employment and Economic Development job creation fund, he said.
“While the specific funding amount has yet to be determined, it would be awarded to the business as jobs are created and retained,” he said.
RMS plans to add at least 80 new jobs within three years of completing this project, Brown said.
“This is the first step,” he said. “There may be a local funding component as well.”
According to Lee Zachman, RMS president, the company’s products are sold all over the world and the new jobs created with the expansion will be “high tech, high pay.”
RMS is proud to be part of Coon Rapids and it has a very good relationship with the city, while its employees are doing a lot of volunteer work in the community, Zachman said.
“RMS is one of the jewels of Coon Rapids,” Mayor Jerry Koch said.
Koch has toured the RMS plant three times and it has a “phenomenal” operation that is “just amazing,” he said.
According to Council Member Brad Johnson, RMS is a great company and he is “grateful” it has so many employees in Coon Rapids.
RMS Company was founded in 1967, acquired by the Cretex Companies in 1982 and moved to Coon Rapids in 1992.
DEED’s job creation fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets, according to the state agency website.
Eligible companies may get up to $1 million, in some cases up to $2 million, for creating or retaining high-paying jobs as well as for constructing or renovating facilities or making other property improvements, the website states.