~ Projects expected to retain or create 211 jobs in Lester Prairie and Austin ~
The Minnesota Department of Employment and Economic Development (DEED) announced today that it has awarded more than $3.1 million in infrastructure grants to projects in Austin and Lester Prairie. The funding, awarded from DEED’s Greater Minnesota Business Development Public Infrastructure Grant Program (BDPI), is expected to retain or create 211 full-time jobs and leverage $182.5 million in private investment.
“DEED is dedicated to economic development in all cities across Minnesota,” said DEED Commissioner Matt Varilek. “Our Greater Minnesota Business Development Public Infrastructure Grant Program is one of the many ways we invest in our growing local economies.”
The BDPI program awards grants worth up to 50% of eligible capital costs for qualifying public infrastructure projects in communities outside the Twin Cities metropolitan area. These projects include streets, wastewater collection and treatment, drinking water, storm sewers and more.
Details on the individual projects below:
Lester Prairie – $1,459,522
The city of Lester Prairie was awarded $1,459,522 to construct a new industrial park that will create five lots over 17 acres. The city estimates the industrial park — the first in the city and the fourth in McLeod County — will attract $2.5 million in private investment and create 105 jobs over five years. The total project cost is $2,899,044.
Austin – $1,650,175
The city of Austin was awarded $1,650,175 to construct street and sewer systems for the Creekside Business Park Extension Project that will add 57 acres to the park, as well as provide space for additional businesses to locate in the park. The project is expected to create 106 jobs and pull $180 million in private investment from NuTek and Smyth. The project is also receiving a $2.2 million federal grant from the Economic Development Administration (EDA) as a part of the American Rescue Plan and EDA’s $300 million Coal Communities Commitment. The total project cost is $4,375,350.
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, JoinUsMn.com, CareerForceMN.com or follow on X.
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.