Legislation introduced by State Senator Kathy Sheran to provide bonding funds for the Mankato Event Center expansion will be heard in the Senate Capital Investment Committee on March 14. The meeting begins at 6 p.m. and will be held at the State Capitol.
Sen. Sheran’s bill requests $14.5 million for the Event Center/Arena improvements and expansion. The project is estimated to have an annual $50 million economic impact in Mankato and will create 450 construction jobs, with a resulting $84 million construction economic impact.
“The arena staff currently turns down convention and meeting opportunities because the structure lacks a large auditorium and breakout rooms,” Sen. Sheran said. “The lost economic impact due to lack of space is $3.7 million. The partnership between Minnesota State University, Mankato and the city is especially important because, with city/state partnership, there are cost savings to everyone. We can meet the goals of the city, university and community with same investment.”
Governor Mark Dayton included the $14.5 bonding request for the event center expansion and arena remodel in his $775 million capital investment proposal announced in January.
“This project is a true collaborative effort between the university, city and business community,” Sen. Sheran said. “I appreciate that the Governor has included the proposal in his bonding request. I think we all recognize that this expansion would have a huge economic benefit to the region. These are strong points that I will make to the committee during the bill’s discussion.”