MINNEAPOLIS - The Valspar Corp. announced plans to expand its research and development campus and renovate its former headquarters building, located in downtown Minneapolis. Valspar is investing $30 million in the project, which will add 87,000 square feet of laboratory, meeting and office space. It is expected to be completed in early 2014.

The Minneapolis campus is the anchor of the company’s research and development network worldwide, collectively called the Valspar Applied Science and Technology Centers (VAST). The company operates a second flagship R&D facility recently opened in Guangzhou, China, as well as more than three dozen smaller laboratories around the world. The R&D center in Minneapolis will enable Valspar to expand its partnerships with highly regarded research institutions and universities, including the University of Minnesota, providing co-operative internships and equipment sharing.

One of Minneapolis’s oldest and most established companies, Valspar is a global leader in the paint and coatings industry.