The popular Business Development Public Infrastructure (BDPI) grant program will soon run out of funds, according to information obtained from the Minnesota Department of Employment and Economic Development (DEED).
The BDPI program, which provides grants to Greater Minnesota cities to help pay for public infrastructure needed to foster private business growth, has helped bring jobs and economic growth to hundreds of communities across the state. However, the cash and bonding accounts for the BDPI program are nearly depleted, and DEED will not be able to consider additional applications until this summer at the earliest.
It will be up to the Legislature to make a significant investment of bonding dollars in 2020 to ensure that numerous projects around the state are not left waiting. In the last biennium, the Legislature appropriated $17 million in bonding funds to the BDPI program—all of which has already been put to work creating jobs in Greater Minnesota. The GMNP and our sister organization, the Coalition of Greater Minnesota Cities, is requesting an additional injection of $20 million into the program this year. Continue reading