Minnesota Investment Fund (MIF)

The Minnesota Investment Fund provides grants to help add new workers and retain high-quality jobs on a statewide basis.

The focus is on industrial, manufacturing, and technology-related industries to increase the local and state tax base and improve economic vitality statewide.

To Apply
Applications are accepted on a year-round basis. Select the Application Process link in the table of contents on this page.

Eligibility
Grants are awarded to local units of government who provide loans to assist expanding businesses. Cities, counties, townships and recognized Indian tribal governments are eligible for this fund.

Project Requirements
All projects must meet minimum criteria for private investment, number of jobs created or retained, and wages paid. There is a maximum of $500,000 per grant. Only one grant per state fiscal year may be awarded to a government unit.

At least 50 percent of total project costs must be privately financed through owner equity and other lending sources (most applications selected for funding have at least 70 percent private financing).

Terms and Interest
Grant terms are for a maximum of 20 years for real estate and a maximum of 10 years for machinery and equipment. Interest rates are negotiated.

For more information, contact the Office of JOBZ and Business Finance at 651-259-7430 or toll-free at 800-657-3858.