DEED Awards $250,000 Infrastructure Grant to Redwood Falls
ST. PAUL – The Minnesota Department of Employment and Economic Development (DEED) has awarded a $250,000 grant to the city of Redwood Falls to help pay for developing a business park.
Funding for the Ponderosa Business Park was provided under the agency’s Greater Minnesota Business Development Public Infrastructure Grant Program. Combined with other funding from the city, the total cost of the project is about $738,000.
The funding will pay for infrastructure improvements at the site, including water, sewer, streets and utility extensions.
Ponderosa, which is being developed because the city’s existing business park is at full capacity, will be designed for light-industrial businesses. The infrastructure portion of the new site is expected to be completed in mid-October.
The 12˝-acre site is located near the airport on the city’s east side. Six lots will be available for development.
“This grant program is important because small communities in Minnesota, like Redwood Falls , need support to pay for the infrastructure that is crucial for economic development,” said DEED Commissioner Dan McElroy. “This funding will stimulate business development and help create jobs in Redwood Falls.”
Funding for the Greater Minnesota Business Development Public Infrastructure Grant Program was included in Gov. Tim Pawlenty’s Strategic Entrepreneurial Economic Development (SEED) initiative. The program provides grants to cities of up to 50 percent for the capital costs of industrial park development or other projects that will expand or create new economic development. Eligible communities must be outside the seven-county Twin Cities metropolitan area.
Eligible projects are publicly-owned infrastructures, including wastewater collection and treatment, drinking water, storm sewers, utility extensions and streets that support economic development projects. Projects include manufacturing, technology, warehousing and distribution, research and development, and agricultural processing.
Since the infrastructure grant program was launched in 2004, the agency has awarded more than $26 million for 76 projects in the state.
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