Bioscience Business Development Public Infrastructure Grant Program
Purpose
This program helps keep or enhance jobs in the area, increase the tax base, or expand or create new economic development through the growth of new bioscience businesses and organizations.
Customers and Services
Grants are provided to local units of government, on an open competitive application basis, of up to 50 percent of the capital costs directly related to bioscience-based businesses. Eligible projects are bioscience business development capital improvement projects that may include manufacturing; technology; warehousing and distribution; research and development; bioscience business incubator; agricultural bio-processing; and/or capital costs for industrial, office, or research park development that is bioscience-related.
Measures - Reporting period is state fiscal year (SFY), July 1 - June 30
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SFY 2007
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SFY 2008
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SFY 2009
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Number of projects
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3
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2
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3
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Dollars funded
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$9.25M
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$4.1M
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$3.5M
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Number of jobs created
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355
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150
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100
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Funding Source and Expenditure (in thousands)
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SFY 2007
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SFY 2008
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SFY 2009
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General Obligation Bond Proceeds
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$716
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$3,627
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$5,999
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Statutory Authority
-- Minn. Stat., Chap. 116J.435
Contact Information
Reed Erickson, Director
Phone: 651.259.7456 or toll-free: 800.657.3858; TTY: 651.296.3900
This information current as of January 2010.