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The City Council unanimously approved a tax abatement and private development contract for KGP Telecommunications’ planned 15,000-square-foot downtown headquarters, with estimated abatements totaling $431,323 over 10 years.
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KGP plans to move its headquarters to downtown Faribault and expand its workforce from 65 employees to at least 73, with an expectation of 86 employees in coming years. The city’s estimated share of the abatement is $262,216, capped at $400,000, with payments beginning February 1, 2028. The public hearing received no comments.
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