Alter Technology, a Plymouth-based semiconductor testing company, has received a significant financial boost from the State of Minnesota to support its growth and job creation initiatives. The company is set to invest $4.5 million in establishing a cutting-edge testing facility, a move that is projected to generate at least 15 new jobs within the first three years. To support this expansion, Alter Technology has been awarded $275,000 from two state economic development programs aimed at encouraging business growth and workforce development.
The funding includes $175,000 from the Minnesota Department of Employment and Economic Development’s (DEED) Job Creation Fund. This fund is specifically designed to assist new or expanding businesses that meet targeted job creation and capital investment benchmarks. In addition, the company received $100,000 through DEED’s Minnesota Investment Fund, which offers financial assistance for acquiring capital equipment to help companies expand their workforce and maintain high-quality employment opportunities.
Expansion Plans Focused on Advanced Semiconductor Testing
As part of its expansion, Alter Technology is planning to lease a space at 15301 Highway 55 in Plymouth to establish its new testing center. The facility will focus on high-reliability semiconductor testing, ensuring components can endure extreme conditions such as high temperatures over extended periods. The company’s expertise lies in evaluating electrical, electronic, and electro-mechanical parts for sectors requiring top-tier durability and performance, including aerospace, medical technology, industrial systems, and non-classified defense.
Alter Technology is a subsidiary of the Germany-based TÜV Nord Group, a global leader in technical services. The company’s growth in Minnesota reflects both its commitment to technological innovation and the region’s strategic importance in the semiconductor and advanced manufacturing industries. The state-of-the-art facility will not only increase the company’s capacity but also help meet the rising global demand for highly reliable electronic components.
Minnesota Celebrates Record Year in Job Support Programs
The funding awarded to Alter Technology comes as part of a broader record-setting year for DEED’s job creation initiatives. DEED Commissioner Matt Varilek announced that the department’s programs have helped create or retain 4,750 jobs during the current fiscal year—a milestone that reflects Minnesota’s strong and supportive business climate. Varilek emphasized that the new record for business expansions facilitated by DEED highlights the state’s commitment to fostering economic growth and innovation.
“Setting a new record for DEED-assisted business expansions says a lot about Minnesota’s healthy business environment,” Varilek said. The support for Alter Technology underscores the state’s ongoing investment in sectors that drive high-tech job growth and sustainable development.
With this latest investment, Alter Technology is poised to play an even greater role in Minnesota’s technology landscape, contributing to both the local economy and the broader field of advanced electronics testing.
