Bill > HF2203

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 innovation center is designed to support entrepreneurs from low-income communities by providing a versatile space that could include various business development resources such as 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 designated as a one-time appropriation and will be available until the project is either completed or abandoned, in accordance with state financial regulations. The bill specifies that the appropriation becomes effective the day after it is formally enacted, with the goal of fostering economic development and providing infrastructure to support small business growth in an underserved urban area.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2203&ssn=0&y=2025