Growing prosperity in greater minnesota

DEED accepting applications for broadband grants

The Department of Employment and Economic Development (DEED) is now accepting applications for grants to expand broadband infrastructure to areas that lack adequate high-speed Internet service. The funding is available under the $20 million Border-to-Border Broadband Development Grant Program that was created by the legislature during the 2014 session.

Under the program, groups can apply for up to $5 million in funding to build out broadband infrastructure in their communities. Applicants must have at least a 50 percent funding match for their projects. Eligible applicants can include incorporated businesses and partnerships, political subdivisions, Indian tribes, Minnesota nonprofits, cooperative associations and limited liability corporations.

Application materials and more details about the program can be found at http://mn.gov/deed/about/contracts/.

Recent changes make the Angel Tax Credit Program more usable in Greater Minnesota

The Department of Employment and Economic Development (DEED) is getting the word out about the Minnesota Angel Tax Credit Program and the recent changes geared at creating investment outside of the metro area and with woman and/or minority-owned businesses.

The GMNP worked hard last session to make some important changes to this program, including the reservation of $7.5 million for Greater Minnesota, woman-owned or minority-owned businesses. The types of businesses eligible to use the program were also expanded to include businesses researching or developing a proprietary product, process or service in agriculture, tourism, forestry, mining, manufacturing or transportation.

For more information about the Angel Tax Credit Program, please read this Fact Sheet put out by DEED  or go to www.mn.gov/deed/business/financing-business/tax-credits/angel-tax-credit/.