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Minnesota Investment Fund Page 1 of 1 <br /> Minnesota Investment Fund <br /> The Minnesota Investment Fund provides grants to help add new workers and retain high-quality jobs <br /> on a statewide basis. The focus is on industrial,manufacturing, and technology-related industries to <br /> increase the local and state tax base and improve the economic vitality for all Minnesota citizens. <br /> Grants are awarded to local units of government who provide loans to assist expanding businesses. <br /> Cities, counties, townships and recognized Indian tribal governments are eligible for this fund. All <br /> projects must meet minimum criteria for private investment, number of jobs created or retained, and <br /> wages paid. There is a maximum of$500,000 per grant. Only one grant per state fiscal year can be <br /> awarded to a government unit. At least 50 percent of total project costs must be privately financed <br /> through owner equity and other lending sources (most applications selected for funding have at least 70 <br /> percent private financing). Grant terms are for a maximum of 20 years for real estate and 10 years for <br /> machinery and equipment. Interest rates are negotiated. <br /> Applications, using the Pre-Application, are accepted on a year-round basis. <br /> For more information, contact Paul A. Moe at 651-297-1391 or toll-free at 800-657-3858. See also: <br /> Minnesota Investment Fund -Annual Program Summary,primarily for legislators. <br /> http://www.positivelynm.com/bizdev/lnvFd/ 3/31/2006 <br />