Two Cities Awarded Grants for Innovative Business Development

ST. PAUL – The Minnesota Department of Employment and Economic Development (DEED) today announced grants totaling more than $1.8 million for infrastructure projects that support innovative businesses and organizations.

The funding was awarded from DEED’s Innovative Business Development Public Infrastructure Grant Program (IBDPI) to the cities of St. Paul and Carver. These projects are expected to retain 317 full-time jobs and create an additional 120 full-time jobs.

“I’m working to rebuild Minnesota’s infrastructure so we can attract and grow business,” said Governor Tim Walz. “Today that means investing in public projects in Carver and St. Paul that will help businesses expand and create hundreds of jobs.”

“These grants demonstrate how state government and the private sector can collaborate to create greater opportunity and continued economic growth throughout Minnesota,” said DEED Commissioner Steve Grove. “These cities are investing in future economic development and success.”

The IBDPI grant program supports communities with the costs of new public infrastructure that is necessary for innovative businesses to locate or expand in Minnesota. Projects must create and/or retain jobs in the area, increase the tax base and enhance economic development for the area.

Eligible applicants include counties, cities, towns, special districts, public higher education institutions or other political subdivision or public corporations in Minnesota. Funds from this program can be used for public infrastructure that includes wastewater collection and treatment systems, drinking water systems, storm sewers, utility extensions, telecommunications infrastructure, streets, roads, bridges, parking ramps and facilities that support basic science technology and/or clinical research.

The following is a breakdown of the latest funding:

St. Paul - $857,881

The grant pays for the construction of a public parking lot necessary for Minnetronix to expand. Minnetronix, a medical technology company that designs and builds medical devices, will retain 287 full-time employees and add 89 additional full-time employees.

Carver - $977,134

The grant will help extend streets, water, sewer and other public infrastructure necessary for Lakeview Industries to relocate and expand. Lakeview Industries is a high tech manufacturer of flexible non-metallic components for medical, aerospace, telecommunications and other industries. Lakeview Industries will retain 90 full-time employees and add an additional 31 full-time employees.

DEED is the state’s main economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development for more details about the agency and its services, visit the DEED website or follow DEED on Twitter.