Bill puts $15M into BDPI grant program
A bipartisan group of legislators introduced a bill this week would provide $15 million in funding for the Business Development Public Infrastructure (BDPI) grant program. In the House, the bill was introduced by Rep. Bob Gunther (R-Fairmont) as HF 653. Sen. John Jasinski (R-Faribault) introduced the Senate version of the bill, SF 391.
BDPI has been an extremely successful economic development tool since it began awarding grants in 2003. The program provides grants to cities in Greater Minnesota of up to 50% of the capital costs to build the public infrastructure needed to allow existing businesses to expand or to attract new ones. Due to its popularity, however, little funding currently remains in the BDPI program.
For more information on the BDPI program, including a list of cities that have received funding in recent years, read this handout.