Senator Mark Koran (R-North Branch) today congratulated Sunrise Fiberglass LLC, a composites manufacturer based in Wyoming, for being awarded a $160,000 Minnesota Investment Fund (MIF) loan from Minnesota’s Department of Employment and Economic Development (DEED).

The funding will support a $3.6 million expansion project at Sunrise’s Wyoming facility, helping the company add 20,000 square feet to the existing building. Sunrise Fiberglass expects to create 23 new full-time jobs within the first two years, with an average wage of $25.95 per hour.

“Investing in the growth of companies like Sunrise Fiberglass is a win-win for Minnesota,” Senator Mark Koran (R-North Branch) said. “Not only will this money directly support the creation of good-paying jobs at a great local company, but the expansion of Sunrise’s facility will have a positive ripple effect throughout our community and our region. I applaud DEED for choosing Sunrise Fiberglass as part of its effort to foster business expansion and workforce development across Minnesota.”

Sunrise Fiberglass makes parts for various industrial equipment including cranes, mining machines, and underground infrastructure. The company is a subsidiary of National Composites.

The Sunrise investment was part of a $7.45 million package of expansion funding announced by DEED. In total, the funding is expected to create 430 jobs and leverage over $270 million in outside investments across six Minnesota companies.

The business incentives are provided through DEED’s Job Creation Fund and Minnesota Investment Fund programs. The JCF offers financial incentives of up to $2 million for companies creating high-paying jobs and making capital investments. The MIF provides loans to help add and retain jobs, focused on industrial, manufacturing and technology firms.