Polaris Breaks Ground on Major Facility Expansion
Company’s Product Development Center in Wyoming, Minn. will more than double in square footage Polaris Industries Inc. (NYSE: PII) broke ground on an expansion of the Company’s Product Development Center near Wyoming, Minn. Since opening in 2005, the 126,000 square foot research and development facility has been pivotal in Polaris’ ascent to the top of the global powersports market. “Opening the Wyoming facility seven years ago reinforced Polaris’ dedication to leading through innovation,” said Scott Wine, Polaris CEO. “Continuously improving our technology, and incorporating those advances into our vehicles, is the cornerstone of our success, and expanding our Product Development
Center paves the way for its future contributions.” Wine, along with other Polaris executives and political and civic leaders, took center stage at the ground-breaking ceremony earlier today, driving shovels into the ground in a ceremonial start to the construction project. The event also was attended by Polaris employees and notable Minnesotan politicians and business leaders, including U.S. Senator Amy Klobuchar, U.S. Congressman Chip Cravaack and Commissioner Mark Phillips of the Minnesota Department of Employment and Economic Development (DEED).
“We are thankful for our continued partnership with Polaris, and excited that they chose to expand operations here in Minnesota,” DEED Commissioner Phillips said. “This investment is an important boost to the local economy and will help maintain Polaris’ place as an industry leader and innovator.” GREATER MSP, the region’s economic development partnership, coordinated the involvement of Polaris, Chisago County, the City of Wyoming, and DEED, to compile a package of financial incentives to help Polaris expand. A combination of job training support, infrastructure improvements, R & D credits, JOBZ financing and