Hydra-Flex Receives Support for Relocation & Expansion
December 19, 2018 – Minneapolis-St. Paul, MN – Hydra-Flex, Inc., manufacturer of innovative fluid handling equipment, will move its office and manufacturing facility to a larger site in Savage, MN. To facilitate the move, Hydra-Flex has received both financial incentives and support from local partners.
Minnesota’s Job Creation Fund (JCF), which provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets, approved Hydra-Flex for $400,000. The Minnesota Investment Fund will also loan Hydra-Flex $300,000 to assist with the move to Savage.
Other key partners regarding Hydra-Flex’s move include Carlson Commercial and Sherburne Slater Construction. Ted Carlson with Carlson Commercial is a longtime partner of Hydra-Flex’s that understands the business and identified, negotiated, and finalized a space that was an ideal fit. Nate and Erik with Sherburne Slater Construction have been named the general contractors for the buildout. They provide the quality, expertise, and experience needed from a construction company.
“Hydra-Flex has experienced more than a 30% growth rate over the past five years,” stated Justin Jovle, Director of Business Development at Hydra-Flex. “We currently employ 70 people, and we plan to double our workforce in the next four years.”
Hydra-Flex plans to be fully operational at the 80,000-sqaure-foot space in Savage, MN in February, 2019.
About Hydra-Flex, Inc.
Hydra-Flex, Inc. was founded in 2002 as 2 men, a beer fridge, and a machine shop – driven by the simple belief that they could “find a better way” to manufacture innovative and reliable fluid handling products for the vehicle wash industry including chemical dispensing systems and high-pressure nozzles. Building on that expertise, Hydra-Flex products are now used in multiple industries including hydro excavation and industrial cleaning. Hydra-Flex earned spots on the 2014-2018 Inc. 5000 lists, the 2015-2018 Fast 50, named a Top Inventor by Twin Cities Business, and has won Best in Class, Best New Product Design, and Executive of the Year in the Minnesota Manufacturing Awards.
Media Contact: Erin Bollig