Agency recognized by CDFA for programs and services that promote economic development
10/28/2016 10:51:35 AM
Shane Delaney, 651-259-7236
ST. PAUL – The Minnesota Department of Employment and Economic Development (DEED) has received a national award for its success in using financing tools, resources and programs to encourage economic development in the state.
The Council of Development Finance Agencies (CDFA) named DEED the winner of its 2016 Distinguished Development Finance State Agency Award.
The Columbus, Ohio, based national association recognized DEED for its efforts to build a more prosperous Minnesota, citing the many resources the agency provides to businesses, including guides and fact sheets.
The CDFA also noted DEED’s financing programs, including the Minnesota Investment Fund, which provides support that local governments can use to make loans for business expansion projects, and the Job Creation Fund, which can provide companies with up to $1 million for construction and job creation initiatives.
“This award is a great honor that recognizes the outstanding work that DEED is doing on behalf of businesses and communities in Minnesota,” said DEED Commissioner Shawntera Hardy. “The agency’s efforts are contributing to job growth and new business investments throughout the state.”
Besides DEED, three other economic development entities were recognized by the CDFA. The Industrial Development Authority of the County of Maricopa (Arizona) received the Distinguished Development Finance Local Agency Award, the Lehigh Valley Economic Development Corp. (Pennsylvania) received the Excellence in Development Finance Program Award , and Prince George’s County (Maryland) received the Excellence in Development Finance Project Award.
The awards will be presented at the 2016 CDFA National Development Finance Summit in New Orleans on Nov. 3.
The CDFA is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading members of the development finance community representing public, private and nonprofit entities.
DEED is the state’s principal 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.