Minnesota Forward Fund

Minnesota Forward Fund is sponsored by Minnesota Department of Employment and Economic Development (DEED). Supports business attraction, retention, and expansion in Minnesota, including projects that enhance economic competitiveness and long-term growth.

Minnesota Forward Fund / Minnesota Department of Employment and Economic Development Safeguarding tax dollars is our priority: Report suspicious activity . The Minnesota Forward Fund serves as a closing fund to facilitate private investment that supports business attraction, retention, and expansion in existing and new industries and to develop properties for business use.

It also provides matching funds for federal programs such as the CHIPS and Science Act. The fund supports projects that create and retain high-quality jobs across the state that makes significant capital expenditures that enhance the state’s economic competitiveness and long-term growth.

The Minnesota Forward Fund has the following purposes: Create and retain permanent private-sector jobs in order to create above-average economic growth consistent with environmental protection Stimulate or leverage private investment to ensure economic renewal and competitiveness Increase the local tax base, based on demonstrated measurable outcomes, to guarantee a diversified industry mix Improve the quality of existing jobs, based on increases in wages or improvements in the job duties, training, or education associated with those jobs Improve employment and economic opportunity for residents in the region to create a reasonable standard of living, consistent with federal and state guidelines on low to moderate income persons Stimulate productivity growth through improved manufacturing or new technologies Match or leverage private or public funding to increase investment and opportunity in the state The Minnesota Forward Fund can be used to: Provide grants and loans to businesses that are making large private capital investments in new and existing industries Make grants to communities and higher education institutions to support such capital investments and related activities to support new and existing industries Address capital needs of businesses for machinery and equipment purchases, building construction and remodeling, land development, infrastructure, and working capital Program Appropriation and Limits The Minnesota Legislature appropriated $390 million to the Minnesota Forward Fund.

Of that amount: $50 million is to support business attraction, retention, and expansion projects Individual business expansion projects are limited to no more than $15 million in grants and loans combined.

Total funding per business is limited to $15 million, of which no more than $10 million may be grants $100 million is to match existing federal funds made available in the Consolidated Appropriations Act, Public Law 117-328, to be used to: Construct and operate a bio-industrial manufacturing pilot innovation facility, biorefinery, or commercial campus utilizing agricultural feedstocks Develop a Minnesota aerospace center for research, development, and testing $240 million is to match federal funds made available in the CHIPS and Science Act, Public Law 117-167 Up to 15% of a total project cost, with maximum total project cost of $75 million per project, may be matched for a CHIPS Act project DEED may transfer amounts between these three appropriations Eligible applicants need to submit an application; see the Apply Tab Applications by a business need to include a resolution of support for the project from the municipality or local unit of government in which the project is located Grant and loan agreements under the Minnesota Forward Fund may not exceed more than ten years For more information or to schedule a pre-application consultation, email forwardfund.

deed@state. mn. us .

Read the statute establishing and governing the program. Businesses apply for Minnesota Forward Fund assistance with DEED. Applications are accepted on a year-round basis, subject to funds availability.

There are three different applications: Minnesota Forward Fund Application PDF (general) Minnesota Forward Fund and Consolidated Appropriations Act Application PDF (bio-industry and aerospace projects with CAA funding) Minnesota Forward Fund CHIPS Act Application PDF (semiconductor chip) Minnesota Forward Fund for Institutions of Higher Learning The Minnesota Forward Fund provides grants up to $5 million to Institutions of Higher Education to support the development and deployment of workforce training programs.

These programs directly support the workforce needs of industries that are supported through the Minnesota Forward Fund. Educational institutions must partner with at least one business that has been approved for the Minnesota Forward Fund. Applications are currently being accepted.

Be an accredited public or private higher education institution partnering with a business benefiting from the Minnesota Forward Fund CHIPS Act Program within the state Proposals must have a minimum of one-to-one non-state sourced matching funds.

Matching funds may be cash or in-kind contributions from either the educational institution, participating business, or a combination of the two Use of the funding must be supported by a business or businesses that will benefit from the proposal.

Institutions within the Minnesota State Colleges and Universities system shall obtain a letter of support from the system office for the proposal Develop and deploy training programs and build workforce pipelines that serve the semi-conductor industry Increase the capacity to serve industrial requirements for research and development for semi-conductor projects Grant funds may be used to construct or equip facilities that serve the purpose of industry Applications for grants are accepted on a rolling basis year-round.

Institutions of Higher Education apply directly to DEED and are encouraged to schedule a pre-application consultation by contacting the program administrator. Approval is determined by the project having a clear and compelling workplan, budget, timeline, and outcomes that align with the purpose, goals, and priorities of the Minnesota Forward Fund Program. Contact Kipp Woxland, program administrator at kipp.

woxland@state. mn. us, 651-259-7690.

Frequently Asked Questions - Minnesota Forward Fund for Institutions of Higher Learning What is the maximum state contribution? The maximum state contribution (award) per institution is $5,000,000 and may not represent more than 50% of the total project funding. Published November 11, 2024 .

If my institution has multiple principal investigators, are applications accepted by DEED from multiple departments? Interdepartmental collaboration should occur prior to an institution submitting their single project proposal (application). Published November 11, 2024 .

My institution received a grant from a federal agency, can that grant be used as a source for the required match? Yes, although the expectation remains that a participating business partner also provides a match. Published November 11, 2024 .

As a member of a consortium of employers, can an employer who has not received a federal award participate as an employer partner with an education institution if included in the signed agreement? Yes, multiple employer partners can support a project. However, one of the participating businesses must have been awarded the Minnesota Forward Fund.

Published November 11, 2024 . Can other employers provide letters of support or will only the employer who has received Minnesota Forward Fund be considered? All letters of support are considered, as is the level of support each business is pledging.

At least one of the participating businesses must have been awarded the Minnesota Forward Fund. Published November 11, 2024 . What are the reporting requirements?

Progress reports are generally due every four months, beginning after the grant contract agreement is executed, and are clearly outlined in the agreement. Institutions are required to provide a written narrative addressing the grantee's duties and outcomes of the project as well as a financial accounting of project costs for activities that occurred during the reporting period. Published November 11, 2024 .

Can the salary of an apprentice be counted towards a company's in-kind match? No, an apprentice is a beneficiary of the program and their salary is not counted as a contribution to the project. Published December 4, 2024.

Can a business that has received the MN Forward Fund provide a letter of support and not be required to provide financial assistance? Yes, a MN Forward Fund recipient is allowed to pledge their support to a project without providing financial assistance. Published December 4, 2024.

Does semiconductor include suppliers to the industry or only Fab facilities? Yes, ancillary companies supporting the industry can provide support to the project. The project must have the support of a MN Forward Fund recipient.

Published December 4, 2024. Use this interactive funding awards map to see where Minnesota Forward Fund projects are located throughout Minnesota. You can see the amount of the awards, new jobs created, average wages and more for each project and download the data.