At an event with nearly 900 commercial real estate professionals, the Minnesota Real Estate Journal named Faribault 'City of the Year' for the second time in the last five years.
The City recognizes all of the wonderful investments and partnerships that are happening in our area and it would not be possible without our entire community coming together to support these projects. As the only greater Minnesota finalist, we are honored to have been chosen as City of the Year. The City received the same award in 2019.
Below are a few projects which helped contribute to the success.
- Trystar expands an additional 75,000 square feet beyond its original 120,000-square-foot facility.
- Daikin added a new facility on the northside of Faribault.
- Faribault Foods invests in biodigester to offset odor.
- The City was awarded a $2 million grant to construct a new water tower on the northside to meet the need of increased waterflow.
- With a rental vacancy rate under 1%, the City has focused on improving the rental housing rate by partnering with developers who have added 300+ apartments over two years. The City has worked to ensure TIF and tax abatement dollars were made available to two apartment projects that started construction or opened in 2021.
In addition, downtown Faribault’s Cry Baby Craig's was awarded a finalist for the Restaurant/Retail and Greater Minnesota categories.