MN Senate gives final legislative approval to job creation, economic development bill
ST. PAUL, Minn. – Today, Senate lawmakers affirmed their commitment to strengthening Minnesota’s workforce by investing $89 million in middle-class job creation, economic development, job training and proven job-creating small business strategies. The Omnibus Jobs and Economic Development Finance Bill, HF 729, passed the House on Wednesday, and today’s Senate approval sends the omnibus bill to Governor Dayton’s desk for his signature.
Key investments made in this omnibus legislation include:
• Minnesota Investment Fund (MIF): $30 million
• Job Creation Fund (replaces JOBZ): $24 million
• Global Competitive Initiative: $1.5 million
• Film/TV Board: $10 million
• Housing/Job Growth Initiative: $10 million
• Explore Minnesota Tourism: $11 million
In addition to job and business growth initiatives, the bill includes new solar energy provisions and standards. The standards set are modest; investor-owned utilities will only have to have 1.5 percent of their total retail energy come from solar by 2020. Furthermore, the bill authorizes production incentives that can be paid for “Made in Minnesota” solar modules.
Senator David Tomassoni (DFL-Chisholm), chair of the Environment, Economic Development and Agriculture Finance Division, released the comments below following passage of the omnibus bill:
“The last few years have been tough on hardworking Minnesotans. Only recently have we started coming back from thousands of job losses and economic struggles. This bill may be the most significant job creation bill in many years, making economic development across the state a top priority.”
“I’m proud of the investments we’ve made in the MIF and Job Creation Fund, and I look forward to watching Minnesota’s economy grow and diversify through the Global Competitiveness Initiative. We are building upon investments that work and expanding into new markets to strengthen Minnesota’s economic growth.”
“The energy provisions in this bill allow our communities to get in on the solar boom happening across America. More importantly, we make sure that the solar development happening in Minnesota, directly benefits Minnesotans.”
“This bill strengthens and creates many good programs that respond to Minnesotan’s shared priorities, get folks back to work, and get businesses investing again in Minnesota.”