Solventum plans to spend $209 million to upgrade and equip a former Blue Cross building in Eagan as its new headquarters.
If it stays in Minnesota, Solventum plans $209M overhaul of Eagan Blue Cross campus
The 3M health care spinoff is asking for $13 million in state assistance as it decides where to put its permanent campus.
The Minnesota Star Tribune
October 16, 2024 at 4:23PM
The 3M health care spinoff is asking for $13 million in state assistance, including an $11 million forgivable loan and $2 million in rebates and grants through the Minnesota Department of Employment and Economic Development (DEED), according to state documents.
Cities around the world have courted the $8 billion company as it seeks a permanent home outside the 3M campus in Maplewood, where Solventum operations are currently based. An Eagan City Council resolution supporting the state assistance warned Solventum could “move employees to any of the company’s 29 locations outside of Minnesota.”
More than 1,100 jobs will remain in Minnesota if the project goes forward. A majority of those employees will be on site daily, working in R&D labs and a pilot plant.
“We’re thrilled about the prospect of Solventum joining the Eagan business community,” Eagan Mayor Mike Maguire said in a statement. “Their presence would further strengthen our position as a hub for innovation and economic growth.”
Solventum declined to comment.
A 250,000-square-foot building at 1750 Yankee Doodle Road will be outfitted “to accommodate significant machinery and equipment for research and development and pilot plant manufacturing functions,” according to a DEED notice, which added that “no additional local assistance is being proposed.”
The $209 million project cost includes property acquisition, site upgrades and equipment purchases.
Blue Cross and Blue Shield of Minnesota downsized its Eagan campus in 2023 in response to hybrid work, leaving 440,000 square feet of office space unoccupied. The campus sits across the Minnesota River from the Mall of America.
Solventum spun off from 3M on April 1. The company, which makes medical devices, bandages, dental supplies and other products, had not publicly committed to keeping its headquarters in Minnesota amid the spinoff.
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