Application Opens for $1.9 Million in Main Street Economic Revitalization Program Grants
Applications are now open for the Main Street Economic Revitalization Program grants through the Greater Mankato Growth, Inc. (GMG) Foundation. This program is funded by a $1.9 million grant from the Minnesota Department of Employment & Economic Development (DEED), the state’s principal economic development agency.
Businesses seeking to develop or redevelop property in one of three commercial corridors in Blue Earth and Nicollet County can apply for grants to cover up to 30% of the total eligible project costs. Applications will be accepted immediately, and anyone planning a construction project of at least $5,000 is encouraged to apply. Target corridors include the Mankato and North Mankato City Center, the US Hwy 60/169 corridor, and the US Hwy 14 corridor. Corridors are visible on this map: MN Main Street – Greater Mankato Commercial Corridors (arcgis.com)
The grant application as well as application instructions and frequently asked questions are available at www.GreaterMankato.com/MSERP. The first award decisions will begin on September 16, 2022, for applications submitted prior to that date. More details on grant application timelines are available online as part of the grant site.
Following DEED’s initial announcement of their intent to award the funds to the Greater Mankato Growth, Inc. Foundation, GMG staff have been working with staff of Region Nine Development Commission (RNDC), the Greater Mankato Diversity Council, Minnesota Council of Churches – Refugee Services, HACER, and the South Central Small Business Development Center to design an application and award process that is accessible to all eligible recipients of these grant dollars, including recipients from underserved communities. GMG appreciates the partnership and support of these agencies in the creation of this area program.
“We are excited to officially begin the process of putting the funding to work to fully capitalize on the $1.9 million investment provided by the State of Minnesota in our region. We are confident that these funds will serve as a catalyst for ongoing investment that will occur long after these funds are exhausted,” stated Jessica Beyer, President & CEO of Greater Mankato Growth, Inc.
GMG would like to again thank 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 for their letters of support during the application process and their ongoing support through outreach regarding grant availability.