Bill > HF3061

This bill appropriates state funds to support economic development initiatives in Minnesota across three distinct areas. First, $4 million is allocated to the African Development Center, with $2 million for small business owners to purchase commercial real estate, $910,000 for loan loss reserves to attract additional capital, and $1,090,000 for organizational capacity building. Second, $500,000 is designated for social benefit corporations (organizations that provide employment opportunities to underserved populations) to expand workforce capacity, with grants that can be used for wage subsidies, workforce training, and employment support services; recipients must submit a report detailing new hires, job retention, and satisfaction metrics. Third, $300,000 is earmarked for grants to support small businesses in the St. Paul Midway area, with a specific focus on African immigrant business owners, aiming to foster economic growth and job creation; these grant recipients must also submit a report documenting the grant's use, new employees hired, and overall economic impact. All three appropriations are one-time allocations for fiscal year 2026 and will be available until June 30, 2027, demonstrating a targeted approach to supporting small businesses, social benefit organizations, and specific community economic development efforts.

Labor and Employment

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF3061&ssn=0&y=2025