Bill > SF545

This bill appropriates $4.5 million from the Minnesota state general fund in fiscal year 2026 to the commissioner of employment and economic development, specifically for a grant to the Neighborhood Development Center to create a new entrepreneur innovation center in the Lake Street Corridor of Minneapolis. The center is designed to support entrepreneurs from low-income communities by providing a multi-purpose facility that could include a technology accelerator, a beauty and wellness incubator with a small-batch production kitchen, community event spaces, a food production kitchen, and retail spaces. The funding is a one-time appropriation and will be available until the project is completed or abandoned, in accordance with state financial regulations. The bill's effective date will be the day after it is formally enacted, and it aims to provide infrastructure and resources to help small business owners and entrepreneurs, particularly those from economically disadvantaged backgrounds, develop and grow their businesses.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0545&ssn=0&y=2025