This bill aims to enhance economic and workforce development in Minnesota through various appropriations and policy changes. It establishes the office of Explore Minnesota Film, which will oversee a new film production jobs program, and allocates significant funding for initiatives supporting small businesses, particularly those owned by minority and underserved communities. Key appropriations include $2,287,000 annually for the Greater Minnesota business development public infrastructure grant program, $10,000,000 for the Minnesota Expanding Opportunity Fund Program, and $8,000,000 for the Minnesota job creation fund. The bill also emphasizes community engagement and economic equity, directing funds towards organizations that assist microentrepreneurs, child care providers, and commercial real estate purchases.

In addition to new funding, the bill amends existing statutes to streamline grant processes and expand eligibility for various economic development programs. It introduces provisions for long-term loans to nonprofit corporations and community development financial institutions, while also enhancing support for job training initiatives targeting underserved populations. Notably, the bill cancels a prior $5,000,000 appropriation and modifies the Minnesota job creation fund program to include new definitions and requirements for businesses. Overall, the bill seeks to create a more robust economic environment in Minnesota by providing targeted financial support and resources to diverse communities, fostering job creation, and addressing workforce development needs.

Statutes affected:
Introduction: 116J.439
1st Engrossment: 116L.17, 116J.8748, 268.035
2nd Engrossment: 116J.435, 116J.5492, 116M.18, 116U.26, 116U.27, 116J.8748, 268.035, 116L.17