Governor’s bonding bill includes $21M for BDPI grant program
Gov. Dayton unveiled his $1.4 billion bonding bill last week, and we were pleased to learn that it included $21 million for the Greater Minnesota Business Development Public Infrastructure (BDPI) grant program.
The BDPI program is a very important economic development tool for Greater Minnesota communities. It provides matching grants to cities and counties to help them build the public infrastructure needed for economic development. This year, the GMNP and its sister organization, the Coalition of Greater Minnesota Cities, is lobbying for three policy changes as well as funding: raising the current cap on grants from $1 million to $2 million, requiring the state to match 50 percent of a project cost (currently the statute reads “up to 50%”), and allowing BDPI grants to help build industrial parks in anticipation of future growth. The $21 million recommended by the Governor will help DEED accommodate these larger grants.
The House and Senate have yet to release their versions of the bonding bill, but we are hopeful that they will follow Gov. Dayton’s lead and include funding for the BDPI program in their bills as well.
More information about the BDPI program, including a list of cities that have received grants, is available here.