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Big Expansion Project Ahead? Creating 5+ Jobs?

TL;DR Don't start work yet! Contact the EDA to request a DEED state funding form to be considered for the available programs. 

Congratulations, you're ready to grow your business! The EDA is happy to help coordinate your funding requests with Dept of Employee & Economic Development (DEED) to see what potential incentives and funding programs are available for you. 

Step 1: Don't start work. Ok to get quotes or bids but don't agree to anything just yet. We need to be able to prove that without state funding your project would not be possible.

Step 2: Contact the EDA and fill out the General Application for Business Assistance and MN DEED Business Development Intake Form and the Info Sharing Forms.

Step 3: Submit the applications, and drop off/email over the supporting documents, DEED form, and the info sharing forms. Incomplete submittals will result in delayed consideration.

Step 4: Expect to have a couple meetings with our DEED business development representative to explain the project, understand best practices in wording, discuss outside funding sources, and jobs. 

Step 5: The EDA will meet with you to offer internal available funding in addition to what DEED has determined is available to you (contingent on legislative initiatives, available funding, condition of state budget, and other variables). 

Step 6: Depending on the approved funding programs will begin the various application, public approval processes with City Council and the EDA Board which can take up to 2 months. 

 

Helpful Info:

  • Industrial and manufacturing expansions adding 5+ jobs opens a lot of different funding programs from DEED. 
  • Wholesale or B2B manufacturing companies have higher chances of receiving DEED funding. 
  • Retail is unlikely to receive DEED consideration. The EDA will consider retail expansions. 
  • Adding automation, AI, or other tech can open some DEED funding options. 
  • Grants to businesses are pretty slim as public dollars don't typically fund single beneficiaries for individual gain.