Aerospace business could bring $24 million per year to North Minneapolis

Minneapolis residents are looking forward to job growth after ION Corporation announced an aerospace expansion to the Northside.

Within the last month, Chase Bank pulled the plug on its plan to open up a branch in North Minneapolis. Then, Aldi shut its doors. Shortly after, Walgreens closed a nearby location.

Residents explained Ion Corporation expanding into the Northside is a win.

Jerome Kimbrose said it’s no secret that opportunity rarely falls on your doorstep in North Minneapolis.

“Struggling every step of the way. You have to claw and get from what you want,” Jerome Kimbrose, North Minneapolis resident, said.

In the last 25 years, Kimbrose’s surroundings have included violence in the streets, grocery store doors closing for good and businesses leaving the area.

It leaves Kimbrose with limited options to shop, work and thrive.

“Economically, it’s kind of rough. There’s not many jobs on the Northside. We have to go out to other areas to find jobs,” he said.

But not for long.

RiverNorth Development Partners LLC teamed up with ION Corporation to expand their aerospace business in North Minneapolis.

The Black-owned manufacturing facility will bring over 100 jobs to West Broadway Avenue with positions such as aerospace technician.

“60% of those jobs would be available to community members who only have a high school diploma and will pay them a family sustaining wage with a career trajectory,” said Anthony Taylor, managing director of RiverNorth Development Partners LLC.

The expansion is rooted in the desire to create opportunity to build economic wealth in an underserved area of the city.

The Northside of Minneapolis has faced challenges bringing in new investments, but this move is expected to generate as much as $24 million per year in revenue.

“It sounded like an interesting opportunity to expand and to give back to my community,” said Wendell Maddox, ION Corporation founder and CEO.

Maddox grew up on the Northside of Minneapolis and is hoping to help build a better future.

“We know people aspire for a great life. We know they can achieve that in North Minneapolis,” Taylor said.

The goal has been set so people like Kimbrose don’t have to look outside their community for a better chance at life.

“It makes me feel hopeful and makes me feel if we get the right people in here to work and have an opportunity like everywhere else, it’ll grow,” Kimbrose said.

Mayor Jacob Frey voiced his support for this project during the announcement press conference on March 10, calling the investment “critical.”

Business leaders said the next step is to acquire necessary funding to make it happen.

The plan is to break ground in fall 2023 and officially open in the first quarter of 2025.