Woodbury has taken the first step in developing a new area of the city — with a new headquarters for a 3M spin-off company.
Kindeva Drug Delivery plans to build a 136,000-square-foot facility northeast of Settlers Ridge Parkway and Hudson Road. It will be the first development in the city’s Northeast Area, a 400-acre site along Interstate 94.
The building, on 9.5 acres, would house offices, a warehouse, and a light-industrial facility.
“We are all very excited to do this, especially in these trying times,” said John Price, Kindeva’s Global Marketing Communications manager.
Kindeva makes skin patches, inhalers and other products that help patients take medicine.
In May, 3M sold its drug-delivery business for $650 million to Altaris Capital Partners, which named the company Kindeva.
Kindeva’s headquarters currently are in St. Paul. The company employs 900 at facilities in St. Paul, California and England.
At a recent City Council meeting, officials said that because of Kindeva and other future developments, traffic in the Northeast Area will increase.
Eventually, the intersection of Hudson Road and Settlers Ridge Parkway will have to be upgraded. Officials expect to widen both roads from two lanes to four lanes, and install traffic signals and turn lanes.
To pay for the Kindeva building and nearby improvements, Woodbury and Kindeva are expected to receive financial help from the state Department of Employment and Economic Development.
- $515,000 from the department’s Minnesota Investment Fund.
- $475,000 from the Innovative Business Development Public Infrastructure program.
$350,000 from the Job Creation Fund.
Kindeva’s Price said that the company will break ground on the project sometime this year.