Fueled by massive projects like the Costco Depot, Minimizer, Daikin, and Rise Modular, the City of Owatonna is reporting huge industrial growth. Investment has already surpassed all of 2019 and is on track for one of the biggest years in recent memory.
According to the City of Owatonna building officials, through September 2020, Industrial investment has reached $54.7M compared with just $1.4M in 2019. That's an incredible $52M increase and represents a booming industrial park. Fueled by the massive construction of the 385,000 square foot distribution facility that will serve 25 Costco stores through out the midwest, Owatonna is seeing unprecedented growth. Minimizer is adding 80,000 square feet of industrial space to consolidate facilities from Blooming Prairie, Daikin added 150,000 square feet of warehouse and distribution, Rise Modular repurposed an empty industrial building and Bosch is adding a massive distribution center as well.
Couple the industrial growth with commercial building and residential construction and Owatonna's building values total more than $83M through September. Compare that with the total of $50M total in 2019 and it's easy to see how these projects are making a positive impact in the area.