Funding will support infrastructure improvements in International Falls, Pequot Lakes, Princeton and Winsted
7/9/2020 10:25:26 AM
ST. PAUL – The Minnesota Department of Employment and Economic Development (DEED) announced today that it has awarded $919,522 in grants to infrastructure projects in Greater Minnesota.
The funding awarded from DEED’s Greater Minnesota Business Development Public Infrastructure Grant Program (BDPI) was approved for International Falls, Pequot Lakes, Princeton and Winsted. It is expected to retain and create 774 full-time jobs and prepare these cities for future growth.
“Investments in public infrastructure are critical to the economic success of Greater Minnesota communities,” said DEED Commissioner Steve Grove. “As our state continues on its path to economic recovery from the COVID-19 pandemic, these infrastructure investments are a vital tool for future economic growth. We urge the Minnesota Legislature to consider options to increase funding capacity for BDPI grants in the future.”
The BDPI grant program stimulates new economic development, creates new jobs and retains existing jobs through investments in public infrastructure in communities outside the Twin Cities metropolitan area. Under the program, DEED awards 50% of eligible capital costs for the qualifying public infrastructure projects. These projects include wastewater collection and treatment, drinking water, storm sewers and more.
The following cities received funding during this round of BDPI grants:
International Falls was awarded $349,011 to assist with the construction of a street and utilities for the 22nd Street Business Park to accommodate eight new lots that will include UPS, Six R’s Inc., a cold weather testing business, and L & L Constructors. The project is expected to retain 11 jobs and create 22 new jobs.
Pequot Lakes was awarded $164,700 to assist with the construction of a new street and utilities for a new industrial park that will serve two lots. Xcel Energy will be investing $4 million for a new warehouse, garage and offices. The project will retain 15 jobs and create 17 new jobs.
Princeton was awarded $310,000 to assist with the extension of 19th Avenue and utilities extensions to serve the expansion of Sylva Corporation, Inc.. The project will retain 32 jobs and create 50 new jobs.
Winsted was awarded $95,811 to assist with the construction of a new stormwater retention pond to service a new industrial park. A portion of the park will be occupied by a $12.4 million expansion by Millerbernd Manufacturing. The project will retain 580 jobs and create 47 new jobs.
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.