DEED Announces Recipients of Targeted Community Capital Project Grants

Thursday, March 31, 2022

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St. Paul – Today the Minnesota Department of Employment and Economic Development (DEED) announced recipients of the Targeted Community Capital Project (TCCP) grants. In recognition of the statewide impact of COVID-19, natural disasters, and the civil unrest that occurred in the last two years, the 2021 Minnesota legislature authorized $18 million for DEED to administer this competitive grant program, providing much-needed funding for complex and costly capital projects. Capital projects utilizing these funds must result in providing, increasing, and/or expanding access to economic development, education, or workforce development programs or services to underserved communities or economically disadvantaged persons or groups.

“We know the pandemic has had disproportionate impacts on Black, Indigenous and People of Color communities and on economically disadvantaged groups,” said DEED Commissioner Steve Grove. “This funding demonstrates the state’s commitment to a new chapter of equitable economic growth.”

Sixteen grant awards will be issued. The grantees and their locations and award amounts are:

  • Itasca Economic Development Corporation (IEDC):  $1,080,000
    Grand Rapids (Itasca County)
    TCCP funds will be combined with additional funds raised by IEDC to complete “The Forge,” an innovation and maker space in Northeast Minnesota that will provide programming and equipping space for innovators and artists, as well as education, and training for residents from various and diverse backgrounds. This project will advance services to this low-income area with work readiness skills training, pre-apprenticeship training, and in-demand occupational training.

To view full article, visit DEED

Category: Investors