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Strategic Entrepreneurial Economic Development (SEED) initiative
Economic growth in rural Minnesota is closely tied to small business.
Small business is the backbone of Minnesota’s economy. Companies with fewer than 100 employees comprise 97 percent of the state’s businesses and generate most new jobs.
In rural Minnesota, economic growth and the jobs that follow are highly dependent on small business.
That’s why Governor Pawlenty’s proposal - Strategic Entrepreneurial Economic Development (SEED) – makes significant investments in areas of the state most likely to build the base of small businesses and ensure their success.
SEED will bring lasting growth to Minnesota’s rural communities by encouraging new business, growing existing business, and strengthening rural communities.
Status of the SEED initiative
Minnesota's 85th legislative session concluded on May 18, 2008. 2008 capital investment for economic development include funding SEED:
- $7.75 million for the Redevelopment Grant Program, which provides assistance in redeveloping commercial, industrial and residential sites.
- $5.86 million is available through DEED's Redevelopment Grant Program which assists development authorities with up to 50 percent of the costs for redeveloping blighted industrial, residential, or commercial sites.
- $1.89 million is allocated for redeveloping the Ah-Gwah-Ching site in Walker.
- $7 million for Greater Minnesota Business Development Public Infrastructure.
- $1.75 million is allocated for infrastructure for Minnesota biomass energy products to conserve energy and reduce reliance on electricity, oil and natural gas. Eligible recipients are Minnesota school districts, municipalities and counties.
- The remaining $5.25 million is available through the Greater Minnesota Business Development Public Infrastructure grants program for cities outside the seven-county Minneapolis-St. Paul metro area. These grants pay up to 50 percent of the capital costs of public infrastructure improvements that support economic development and job growth.
- $9 million for Bioscience Business Development Public Infrastructure.
- The Bioscience Business Development Public Infrastructure will fund grants awarded to cities, paying up to 50 percent of the capital costs of public infrastructure improvements that support bioscience business development projects. $4.5 million in grants is available.
- $3.5 million is allocated for a research park in a bioscience subzone that is adjacent to a university.
- $1 million is allocated for a project in Worthington that will provide agriculture-based bioscience training and a technology facility.
- $400,000 for the establishment of the Office of Science and Technology at DEED to help small businesses and entrepreneurs access federal grant programs for technology development.
Archived materials on SEED, including the governor’s original detailed proposal are available.