Banner Engineering has broke ground on a new research and development (R&D) building at the company’s global headquarters in Minneapolis, Minn. The new building will allow the company to create more than 225 high-tech jobs locally, as well as accelerate new product development to meet the increasing demand for smart sensor technologies in factories around the world.
"Sensors have long been the eyes of the factory, but now the Industrial Internet of Things (IIoT) allows businesses to leverage sensor data in more meaningful ways,” said Carla Grafstrom, vice president and chief operating officer, “From remote monitoring to predictive maintenance for machines, IIoT capabilities help businesses make better, data-driven decisions. Because of this, the demand for IIoT-capable technologies, including smart sensors and controllers, is growing exponentially.”
According to Banner, the new facility will allow it to continue to expand the depth of its products and make it easier for customers to do business with them. Since 2012, Banner Engineering has already increased R&D and manufacturing headcount by almost 50 percent.
Designed by HCM Architects, the new 50,000 square foot addition will include labs, training spaces, and over 44,000 square feet of new office space—more than doubling the company’s current allotment for new product research and development. Kraus Anderson Construction Company (KA), the general contractor on the project, began construction last week. The new building is scheduled for completion in summer of 2018.