Hormel Institute Planning $27 Million Expansion
AUSTIN, Minn. (AP) – The Hormel Institute is planning a $27 million expansion that will double its size and staff in Austin.
The Hormel Institute is a research unit of the University of Minnesota. Its current focus is on cancer prevention and control. The institute’s expansion will be on its existing land. The Austin Port Authority has asked the state for $13.5 million in bonding funds to help pay for the expansion. If it’s approved, the institute would start construction right away.
The Austin Daily Herald says the expansion is expected to create 125 new jobs with an average starting pay of $40,000 to $50,000. The institute was founded in 1942 and currently employs 130.
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