St. Paul, M.N. – Governor Tim Walz is highlighting a record when it comes to job creation through public-private partnerships.
Walz says a couple of state programs that offer loans and funding for new and expanding businesses have either made or kept 4,750 jobs during the current fiscal year.
That hasn’t happened since the Department of Employment and Economic Development’s (DEED) Job Creation Fund and Minnesota Investment Fund first launched in 2004.
The JCF offers funding for new and expanding businesses that hitjob creation and capital investment targets, while the MIF provides loans for industrial, manufacturing, and technology sectors.
$35 million in state funding was doled out through the public-private partnership.
Walz says the programs have also leveraged more than $1 billion in outside private investments for state companies.
“We’re not just one of the best states to start a business. We’re proving to be one of the best states to grow one too,” said Governor Walz. “We’re proud to support the growth and expansion of strong businesses…while creating thousands of good-paying jobs for Minnesota families.”
