May 17th, 2022
Mankato, MN – The Greater Mankato Growth, Inc. (GMG) Foundation has been awarded $2 Million through the Department of Employment and Economic Development (DEED) Main Street Economic Revitalization Program (MSERP). The $2 million granted by DEED will be utilized to promote development and redevelopment in three commercial corridors in Blue Earth County and Nicollet County, including the Mankato and North Mankato City Center, the US Hwy 60/169 corridor, and the US Hwy 14 corridor. GMG’s Foundation will serve as the fiscal host of these funds, which will be subgranted to business owners and developers within the three commercial corridors viewable here: MN Main Street – Greater Mankato Commercial Corridors (arcgis.com)
Jessica Beyer, President & CEO of Greater Mankato Growth, Inc. commented, “Securing $2 million in funds to support development and redevelopment needs throughout main corridors within our region is incredible and we are excited to see the impact these grant dollars will be able to provide area businesses. We are appreciative to DEED for this instrumental funding opportunity in the Greater Mankato region and for the many area stakeholders who have supported and will continue to partner to help with distribution of these funds.”
This program specific DEED program provides 30% matching grants designed to address the greatest economic development and redevelopment needs that have arisen in communities across Minnesota since March 15, 2020.
DEED Commissioner Steve Grove will host a press conference today (May 17) at noon to talk more about these funding awards. Watch the press conference here.
David Krause, Chair of Greater Mankato Growth, Inc. and the Greater Mankato Growth Foundation said, “The process for obtaining these funds was highly competitive and showcases the importance of GMG’s role in regional collaboration and how partnerships make a difference. I’m excited to see what is to come for projects in these key regional corridors and have visions come to life through use of these funds.”
GMG will be working with Region Nine Development Commission (RNDC), the Greater Mankato Diversity Council, the Minnesota Council of Churches, and HACER to design a formal application and award process that is accessible to all eligible recipients, with additional support to underserved populations. Once developed, applications will be accepted and reviewed on a continual basis. The Small Business Development Center will be providing technical assistance to applicants. Additionally, the Cities of Mankato, North Mankato, Saint Peter, Eagle Lake, Lake Crystal, Nicollet, and Courtland, Blue Earth County, Nicollet County, and the St. Peter Chamber of Commerce will assist with outreach and marketing support. More information will be shared once materials are available.
This grant award could not have been possible without the participation of this wide range of community partners. GMG offers special thanks to the City of Mankato and RNDC for their assistance in the grant design process.
For more information, visit the Minnesota Main Street Economic Revitalization Program page.
About Greater Mankato Growth
Greater Mankato Growth, Inc. (GMG) is comprised of four business units: Greater Mankato Growth, the regional chamber of commerce and economic development organization; Visit Mankato, the local destination management organization; City Center Partnership, a downtown development organization; and GreenSeam, which utilizes agriculture to build on the region’s extensive agribusiness assets to develop the ag economy.