In the News
After a five-year effort to bring broadband internet to rural Minnesota, state leaders believe the finish line is in sight. Under Gov. Tim Walz’s proposed budget, the Minnesota Department of Employment and Economic Development would spend $35 million in both 2020 and 2021 to support the Border-to-Border Broadband Development Grant Program. That $70 million will put the state on track to hit a statutory goal of extending broadband to all Minnesotans by 2022, DEED Commissioner Steve Grove said Wednesday.
Private investment related to Destination Medical Center totaled $262 million in 2018, according to a report being sent to DEED. That number — double the amount recorded in 2017 — includes $126.5 million from Mayo Clinic and $135.4 million in other private investment. Notable projects include the nearly-complete Hilton hotel ($50.4 million of the total $125 million investment counted toward the 2018 amount) along with upgrades to Mayo’s St. Mary's campus.
One plausible mood-booster in this region of Minnesota is a multibillion-dollar economic development initiative under way in Rochester – an ambitious plan that aims to make that city’s famed Mayo Clinic an even bigger draw than it already is. Destination Medical Center, as the plan is called, claims it could generate as many as 30,000 new jobs in Rochester alone over the next 20 years – jobs in high-tech industries as well as in hospitality and other sectors. Mark Schultz, an analyst with DEED who follows southeast Minnesota, said an economic boost is certainly possible from the DMC initiative.
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Recent Press Releases
This new, external-facing role will work with stakeholder groups, DEED partners, and local officials across the state to promote DEED programs. The role will also serve as a way to listen and solicit feedback from under-represented communities across Minnesota on how DEED can best serve these populations. Additionally, the position will work internally with DEED’s senior leadership team to bring a lens of equity into the agency and champion department-specific objectives against priorities for economic equity.
Governor Walz proclaimed March 20 to be “Small Business Development Centers Day” in Minnesota, recognizing the important role Small Business Development Centers (SBDC) play in supporting the more than 500,000 small businesses in the state. Minnesota is joining SBDCs throughout the nation in celebrating #SBDCDay on March 20, 2019.
DEED approved grants totaling more than $1.7 million in funding for five Minnesota businesses. The Minnesota Job Creation Fund awarded funding to Cantel Medical Corp., NAPCO International LLC, QA1 Precision Products, Inc., Up North Plastics Inc., and Vision Ease, LP. The projects are expected to create a total of 549 new jobs.
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