Southwest LRT Awarded $2 Million DEED Grant
The Minnesota Department of Employment and Economic Development (DEED) announced today $47.5 million in competitive business development grants that will fund nine economic development projects statewide.These targeted investments will put an estimated 2,000 Minnesotans to work on projects of regional and statewide significance. The Southwest Light Rail Transit project will receive $2 million in DEED grant funds.
“This action is a validation of our vision for the region and a validation of the business community's vision that this rail line is integral to their success.
On behalf of CTIB, we thank the Governor for this clear signal that building the Southwest LRT line is important to the future economic prosperity of the state of Minnesota.
Southwest LRT is CTIB's next priority project. Earlier this month, CTIB fulfilled its 4-year funding commitment of $284 million to the Central Corridor light rail line, and now we are turning our focus to Southwest.”
Commissioner Peter McLaughlinChair, Counties Transit Improvement Board
The grant winners were chosen from 90 applications, with requests totaling $288 million. The agency reviewed applications based on five criteria, including: project readiness, job creation, investment and leverage, regional impact, and public benefit. Projects were organized into three regions to achieve geographic balance, including: metro, north, and south.
For more information, the announcement from the Governor’s Office has further details on each competitive economic development grant awarded by DEED: http://mn.gov/governor/newsroom/pressreleasedetail.jsp?id=102-47107