Alter Technology to Expand in Plymouth with State Support
Plymouth, MN – On Thursday, May 8, 2025, Alter Technology, a Plymouth-based technology firm, announced plans for significant expansion with the establishment of a new semiconductor testing facility, bolstered by $275,000 in state job funding. The company, located at 3850 Annapolis Ln. N., will invest $4.5 million in the state-of-the-art facility, which is expected to create 15 new jobs within the next three years.
The Minnesota Department of Employment and Economic Development (DEED) played a pivotal role in this initiative by approving $175,000 from its Job Creation Fund, aimed at supporting businesses that meet job creation and capital investment benchmarks. Additionally, $100,000 was awarded from the Minnesota Investment Fund to assist with equipment financing, further enabling Alter Technology to retain high-quality jobs and expand its workforce.
As part of their expansion strategy, Alter Technology is exploring leasing space at 15301 Highway 55 for their new operation. The company, a subsidiary of the Germany-based TÜV Nord Group, specializes in testing high-reliability semiconductors designed to endure extreme conditions for extended periods. Their offerings cater to a diverse range of industries, including aerospace, medical equipment, non-classified defense, and industrial sectors.
The announcement comes in a year marked by record job creation through DEED programs, which reported the creation or retention of 4,750 jobs this fiscal year. DEED Commissioner Matt Varilek praised the success of the funding initiatives, stating, “Setting a new record for DEED-assisted business expansions says a lot about Minnesota’s healthy business environment.”
For Plymouth, this development signifies a promising step towards economic growth and technological advancement in the region.
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