Innovative Business Development Public Infrastructure Grant Program

Purpose
This program helps keep and enhance jobs in the area, increase the tax base, and 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

*In SFY 2011, this measure was changed from,"number of jobs created."

Funding Source and Allocation
The program received no SFY 2012 funding.

Statutory Authority
-- Minn. Stat., Chap. 116J.435

Contact Information
Tom Gast, Acting Director
Phone: 651.259.7425 or toll-free: 800.657.3858; TTY: 651.296.3900

This information current as of December 2012.