Minnesota Investment Fund

Purpose
This program provides financing that creates and retains high-quality jobs, with a focus on industrial, manufacturing, and technology-related industries, to increase the local and state tax base and improve the economic vitality for all Minnesota citizens.

Customers and Services
Grants are awarded to local units of government who provide loans to assist new and expanding businesses. Cities, counties, townships, and recognized Indian tribal governments are eligible. Loans for land, buildings, infrastructure improvement, equipment, and renovation to support businesses located or intending to locate in Minnesota are eligible. Working capital, retail business, and industrial park development projects are ineligible. All projects must meet minimum criteria for private investment, number of jobs created or retained, and wages paid.

The program has two separate activities funded by different sources. Ongoing loan repayments returned to DEED fund state-funded business loans. Federally funded loans are from the Community Development Block Grant (CDBG) Program. Because of more-restrictive federal fund use, not all projects or areas are eligible and program measures are viewed differently than for state-funded projects. 

Measures - Reporting period is state fiscal year (SFY), July 1 - June 30

*May include jobs contractually agreed-upon by loan recipients.

More DEED measures: Uniform Program Accountability Measures

Funding Source and Expenditure (in thousands)

Statutory Authority
-- Minn. Stat., Chap. 116J.8731

Contact Information
Bob Isaacson, Director
Phone: 651.259.7458 or toll-free: 800.657.3858; TTY: 651.296.3900

This information current as of December 2011.