DEED Awards $6.2 Million in Main Street Economic Development Funding



Minnesota Department of Employment and Economic Development Press Release


*For Immediate Release*




Mary Haugen

[email protected]




February 27, 2025

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*DEED Awards $6.2 Million in Main Street Economic Development Funding*

St. Paul, MN – The Minnesota Department of Employment and Economic Development (DEED) today announced nearly $6.2 million in grants to support local community and economic development on Minnesota’s main streets.

Nine partner organizations will use their Main Street Economic Revitalization grants from DEED to offer assistance – 30% matching grants up to $750,000 – for businesses in the communities they serve.

“Main Street businesses are essential to local and regional economic growth. Through these grants, DEED is helping support economic revitalization that generates excitement among residents, community leaders and businesses around Minnesota,” said *DEED Commissioner Matt Varilek.* “Assistance provided through previous grant rounds helped create or retain thousands of jobs and sparked investment in key commercial corridors across the state." 

This is the third and final round of funding from the $80 million program signed into law by Gov. Tim Walz in 2021. To date, more than 600 businesses supported by Main Street grantees have raised $696 million in matching funds. The awards have also helped create or retain more than 8,700 jobs and increase local tax bases by almost $369 million.

Businesses that apply for and receive funding from the partner organizations can use the funds for property repair or renovation, building construction, landscaping and street scaping, demolition and site preparation, predesign and design, engineering, non-publicly owned infrastructure or related site amenities.

“The impact of our previous Main Street program award has already far exceeded the investment from DEED," said *Ryan Vesey, business development director at Greater Mankato Growth*, a previous Main Street grantee. "These projects have produced a positive ripple effect in main street community development of all sizes."

With two-thirds of Greater Mankato Growth's initial award disbursed, those projects have invested more than $27 million in matching funds into the community. One project that allowed for the demolition of a dilapidated building is paving the way for a new $92 million hotel project; an asbestos remediation and building repair project  led to the development of a new private school; the replacement of an unsafe exterior staircase in Nicollet inspired building tenants to develop a community mural and hold outdoor community events.

“DEED's Main Street Economic Revitalization program will help grow the businesses we serve on the Eastside of Saint Paul,” said *Alma Flores, Latino Economic Development Center (LEDC) executive director*. “LEDC is a long-serving partner in Minnesota's Latino community, and through our place-based initiative, we're looking to curtail displacement and mitigate gentrification pressures along the commercial corridors and main streets that make up the Eastside community’s diverse ecosystem.”

DEED awarded Main Street Revitalization Program grants to the following organizations in this funding round: 


* African Career Education & Resources (ACER) - $194,589
* Destination Medical Center - $750,000
* Greater Bemidji - $546,000
* Greater Mankato Growth - $750,000
* Greater St. Cloud - $624,000
* Initiative Foundation - $500,000
* Latino Economic Development Center - $1.29 million
* Red Wing Downtown Main Street - $750,000
* Southern Minnesota Initiative Foundation - $780,000

"DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. Find out how DEED delivers for Minnesota by visiting the""_ _""DEED website" [ [link removed] ]", ""_ _""JoinUsMn.com" [ [link removed] ]", ""CareerForceMN.com" [ [link removed] ]" or"" ""follow us on X" [ [link removed] ]"."

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"Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161."





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