Making investments to drive energetic economic growth and vitality in the state by giving significant support to both businesses and workers is a key component of an all-encompassing bill.
“We have a bill that will build an inclusive society by uplifting from the bottom and investing in our communities – urban, suburban, and Greater Minnesota,” said Rep. Hodan Hassan (DFL-Mpls) of the omnibus economic development finance bill she sponsors.
The House Economic Development Finance and Policy Committee adopted the delete-all amendment to HF3028, as amended, and approved the bill by a split-voice vote Friday and sent it to the House Ways and Means Committee.
The bill would appropriate $948.35 million in the 2024-25 biennium to the Department of Employment and Economic Development. More than 100 organizations or programs are slated to get $816.28 million of that amount.
Hassan, the committee chair, said financing favors groups that have traditionally been marginalized and discriminated against due to systemic racism and who therefore deserve to get a more equitable share of long-overdue benefits.
“Our country and state have a history of leaving people behind and denying them social safety nets. With biased lending practices, redlining, and systemic barriers, it’s no surprise to anyone that we have the racial wealth gaps that we do in this state,” she said.
The committee adopted several amendments, including those that would: