(KNSI) — The Minnesota Department of Employment and Economic Development announced two area organizations are sharing in nearly $6.2 million in grants to support economic growth and revitalization efforts in communities across the state.
The Main Street Economic Revitalization grants provide 30% matching funds – up to $750,000 per business – to help local businesses invest in their communities.
Greater St. Cloud Development Corporation is getting $624,000. Eligible businesses that receive funding through DEED’s partner organizations can use the grants for property repairs and renovations, new building construction, landscaping and streetscaping, demolition and site preparation, and design, engineering, and infrastructure improvements.
The Initiative Foundation is also getting $500,000.
More than 600 businesses have benefited since the fund was created in 2021, raising $696 million in matching funds, creating or retaining over 8,700 jobs, and adding $369 million to local tax bases.
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