01-08-2025 Workshop Packet - Laserfiche WebLink

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HED-11 ECONOMIC DEVELOPMENT The economic viability of the metropolitan area is enhanced by an array of economic development tools that create infrastructure, revitalize previously developed property, provide incentives for business development, support technological advances, support a trained workforce, and address disparities in economic development and workforce development. It should be the goal of the state to champion development and redevelopment by providing adequate and sustainable funding to assure competitiveness in a global marketplace. The state should recognize the relationship between housing and economic development. Access to affordable childcare supports working families and allows parents to enter or remain in the workforce. Economic development and redevelopment are not mutually exclusive – some projects require a boost on both counts. The State of Minnesota should recognize cities as the primary unit of government responsible for the implementation of economic development, redevelopment policies, and land use controls. For purposes of this section, economic development is defined as a form of development that can contain direct business assistance, infrastructure development, technical assistance, and policy support with the goal of sustainable job creation, job retention, appropriate state regulation or classification, or to nurture new or retain existing industry in the state. The measure of return on investment of public business subsidies should include the impact (positive or negative) of “spin- off development” or business development that is ancillary and supportive of the primary business. A strength of the regional economy is its economic diversity. Multiple industry clusters and sectors employ a specialized, trained workforce and support entrepreneurs in developing new businesses. Partnerships and collaborations among the state and local levels of government, higher education and industry should continue to develop, to commercialize new technologies and to support efforts to enhance the economic vitality of the region. While cities are the unit of local government primarily responsible for the implementation of economic development, counties have an interest in supporting local economic development efforts. Any creation of a county CDA, EDA or HRA with economic development powers should follow Minn. Stat. § 469.1082 that requires a city to adopt a resolution electing to participate. Cities can work with the public and private sectors to support the region’s economic growth by reducing barriers to economic participation by people of color. Metro Cities supports state funded programs that support new and expanding businesses, infrastructure development and public-private partnerships. This includes the Minnesota Investment Fund, Job Creation Fund and Angel Tax Credit. Programs using statewide funding should strive to award funds balanced between the metro region and greater Minnesota. Metro Cities supports competitive funding for statewide grant programs such as the Minnesota Investment Fund (MIF) as opposed to direct legislative appropriations for projects from these funds. HED-11 to HED-13 INTRODUCTION 50