Minnesota DEED awards more than $1.5 million to Austin

Minnesota DEED awards more than $1.5 million to Austin

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(ABC 6 News) – The Minnesota Department of Economic Development will award more than $3 million to two Greater Minnesota cities, with Austin getting the lion’s share.

About $3.1 million in infrastructure grants will be doled out for projects to Austin and Lester Prairie, in McLeod County.

The funding, as part of the Greater Minnesota Public Infrastructure Grant Program, is anticipated to create or retain about 211 jobs and lead to $182.5 million in private investment, according to the DEED.

To participate in the program cities must be outside the seven-county metropolitan area and match at least 50% of the project’s estimated costs. Applicants can receive, at maximum, $2 million in two years for projects.

In Austin, the city plans to use its awarded $1,650,175 to construct street and sewer systems for the Creekside Business Park Extension Project, adding 57 acres.

The project would also allocate space for businesses in the park.

The DEED states the project would create 106 jobs and result in $180 million in private investment.

Austin’s project will also receive $2.2 million in federal grant money from the Economic Development Administration as part of the American Rescue Plan.

Austin’s project will cost about $4.4 million.