Success Stories

Foam Craft Packaging, Inc., Owatonna

Foam Craft Packaging, Inc. provides design and fabrication services for unique products in large and small quantities. In the beginning, their packaging products were just made of foam. Over the last few years, their customers liked their products and services so much, they asked Foam Craft to provide additional packaging services. Today, Foam Craft does specialty packaging and wood crating for national and international shipping needs.

Bob & Donna Ayers started the business in their basement in 1988. After out growing their basement, the business took over the garage and then was given the opportunity to lease space in the Owatonna Incubator. The Incubator’s flexibility to lease additional space as needed allowed the company to continue to grow until they found additional space by building their own building.

After looking into a number of economic development financing options, Foam Craft stared working with the City of Owatonna and the 504 Corporation to assist with the purchase of city owned land, agreement with JOBZ, and an SBA 504 loan. Using all three programs, Bob was able to move the business out of the Incubator and build a new 30,625 square foot building a few blocks away.