Today I attended the Jobs and Economic Development Finance Division meeting where they heard fromMN Dep of Employment & Economic Development and Dep of Commerce about their budgets based on Governor Walz’ One Minnesota Budget. You can see the whole meeting below. Broadband wasn’t a hot topics but a few things came up that were of interest:
For DEED, Steve Grove spoke about various funds, grants and tools to increase economic development opportunities.
- Community Prosperity Grant
For small towns – based on what community thinks are greatest issues for economic development
- MN Innovation collaborative
For everyone innovator job created – 5 more follow – so great network effect
Get start-ups started – overcome risk aversion
Education – help people learn how to start a company
- Talk about changing required employee compensation levels – so that if 51 percent of staff make less than $20- you can still qualify. I mention this because there has always been conversation about employ compensation requirements for projects receiving State Broadband grants. And this seems like a similar situation.
For the Dep of Commerce, Steve Kelley spoke about a few specific technology projects:
- $416,000 in FY20. FY21, FY22 to support Commerce IT System Modernization project
- $475,00 in FY20 and $350,00 per year in ongoing funding to modernize the state’s unclaimed property operating system