DEED’s Economic Development Resources Catalina

LIFE CYCLE EXTENSION DEVELOPMENT STARTUP GROWTH EXPANSION MATURITY Economic Development 4 Launch your startup: Launch MN Grow your small business: Partnerships, MnSBDC, SBAO Reach global markets: MTO Locate & expand your business: Office of Business Development Find, develop & train great talent: MJSP, WSC DEED’s Economic Development assists communities and businesses of any size and at every stage of their lifecycle. We support businesses and communities across the State, including those impacted by power plant closures. Business development funding: Office of Business Finance Community development funding: Office of Community Finance Broadband development funding: Office of Broadband Development<br>

LIFE CYCLE EXTENSION DEVELOPMENT STARTUP GROWTH EXPANSION MATURITY Technical Assistance & Guidance 5 We provide technical assistance and guidance to help address the needs of entrepreneurs and businesses at different stages in their lifecycle.<br>

LIFE CYCLE EXTENSION DEVELOPMENT STARTUP GROWTH EXPANSION MATURITY Financial Support 6 Business financing – targeted toward projects that are likely to result in economic growth. Helps stimulate new business development and business expansions while retaining existing jobs and creating new jobs. Community financing – provides financial assistance to communities statewide for projects that help them stay vital and better position them for economic growth. Workforce development & training – MJSP, offers grants to offset training related expenses incurred by business, industry and educational institutions to meet current and future workforce needs. Broadband Development – connects communities, policy-makers, providers, regional support organizations, and state and federal programs with each other and the resources they need to improve broadband access and use in Minnesota. Additionally, we offer financial support in the form of low interest loans and grant programs to assist communities and businesses in their growth.<br>

LIFE CYCLE EXTENSION DEVELOPMENT STARTUP GROWTH EXPANSION MATURITY Business Financing 7 Our business financing programs help companies and communities retain existing jobs and create new high-quality jobs. Not all businesses are eligible. Qualifying companies must meet specific job creation and wage goals. Business financing<br>

Community financing, including broadband development LIFE CYCLE EXTENSION DEVELOPMENT STARTUP GROWTH EXPANSION MATURITY Community Financing & Broadband 8 We provide financial assistance to communities statewide for projects that help them stay vital and better position them for economic growth. From economic planning, housing, and commercial/industrial property development, to infrastructure and broadband development. 8<br>

Workforce development & training LIFE CYCLE EXTENSION DEVELOPMENT STARTUP GROWTH EXPANSION MATURITY Workforce Development & Training Minnesota Jobs Skills Partnership - MJSP 9 The MJSP works with businesses, educational institutions and nonprofit organizations to train or retrain workers, expand work opportunities and keep high-quality jobs in the state. The goal is to target short-term training for full-time employment in the growth sectors of the state’s economy.

We offer grants through a variety of programs to offset training-related expenses incurred by business, industry, nonprofit organizations and educational institutions to meet current and future workforce needs.<br>

Thank You! Catalina Valencia
Catalina.valencia@state.mn.us<br>