Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
DEED: business expansions and state grants drove investment in 2024; agency highlights CHIPS, MIF/JCF and small‑business programs
Summary
The Minnesota Department of Employment and Economic Development reported multiple private investments and program rollouts, including CHIPS‑related matching funds, the Minnesota Investment Fund and Job Creation Fund activity, small‑business loans and childcare slot grants; DEED said early 2025 results show continued expansions.
Matt Berlek, commissioner of the Department of Employment and Economic Development, told the Senate Jobs and Economic Development Committee that Minnesota saw notable private investment and business expansions in 2024 and that the agency has been implementing major 2023 budget initiatives.
Berlek said the state recorded 113 business expansions in 2024 and cited roughly $12 billion in outside investment connected with DEED‑assisted projects; he also said the state tracked about 2,000 jobs created in 2024 that were tied to agency incentives and that DEED had already reached roughly 1,800 jobs in the first half of fiscal 2025.
Commissioner Berlek and Government Relations Director Devin Bowdre summarized key programs DEED is managing or deploying:
• Minnesota Forward Fund (CHIPS/DOD…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
