Cretex breaks ground on new plant north of Minneapolis

Cretex held an April 9 groundbreaking ceremony for the new facility in Brooklyn Park, Minn. [Image courtesy of the state Department of Employment and Economic Development]

Cretex Cos. last week broke ground on a new 245,000 ft2 medical device contract manufacturing plant in Brooklyn Park, Minn.

Elk River, Minn.–based Cretex plans to complete facility construction by the end of the year. The company expects the facility by the end of 2022 to house its stamping, molding and tool design — and advanced engineering and assembly businesses.

“Cretex is excited to provide our customers with a single-point experience by bringing our capabilities together under one roof,” Cretex CEO Jeff Wollerman said in a news release posted in late March after the land purchase.

“We pride ourselves on having a long-term vision for our businesses, and by creating this modern, environmentally sustainable facility, we are s…

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The hottest life science hubs in the U.S.

Boston at night [Photo by Lance Anderson on Unsplash]

Boston, San Francisco and San Diego remain the leading U.S. life science hubs — hauling in 70% of all the venture capital in the space last year, according to a new report from commercial real estate services company JLL.

Venture capital funding matters, according to JLL, because it fuels innovative companies that then require more real estate space. It’s little wonder that Boston and San Francisco led other clusters with respect to development, with 2.7 million square feet and 4.0 million square feet respectively under construction.

The U.S. is struggling through the COVID-19 pandemic and resulting recession. But JLL in its “2020 Life Sciences Real Estate Outlook” report expressed optimism when it comes to the life sciences sector. Key points in the report included:

The pandemic has sparked a race to create coronavirus tests, t…
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