Banner Engineering, a provider of technology for industrial automation, broke ground on a new R&D building at the company’s global headquarters in Minneapolis, MN. The new R&D building will allow Banner Engineering to create more than 225 new 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.
First founded in 1966 by engineer and entrepreneur Bob Fayfield, CEO, Banner Engineering has developed innovative sensor solutions to challenging industry applications since the early 1970s.
“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,” says 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.”
Since 2012, Banner Engineering has already increased R&D and manufacturing headcount by almost 50%, and the company is poised for continued growth into the next decade.
Designed by HCM Architects, the new 50,000 square foot addition will include labs, training spaces, and more than 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.
As Banner Engineering expands and innovates new products for the fastest-growing trend in the industry, the company will create hundreds of new engineering jobs including mechanical, electrical, and software engineering roles that range from technician to management-level.