Cirrus Behind on Rent in Grand ForksAircraft-maker Cirrus Design is behind on rent payments to the city of Grand Forks and hoping to restructure the lease on its plant in the city's Industrial Park.
Aircraft-maker Cirrus Design is behind on rent payments to the city of Grand Forks and hoping to restructure the lease on its plant in the city's Industrial Park.
City Administrator Rick Duquette says the Duluth, Minnesota based company owes $845,000 in back rent.
Cirrus President and CEO Brent Wouters informed city leaders this week that the company was in the red in 2008 and expects to lose more money this year because of the bad economy, though it is projecting profits in 2010.
At its peak in 2006, Cirrus employed 330 people with an annual payroll of $9.6 million in Grand Forks. This year it averaged 128 employees with a payroll of $1.8 million. The Grand Forks work force currently is at 75 employees.
City leaders tasked the city's Growth Fund Committee with negotiating the details of Cirrus' back rent payment to the city.
The fund is used to offer incentives to businesses to expand or
move to the area.