GMG gets $2M to target development and redevelopment
May 17—MANKATO — The Greater Mankato Growth Foundation will use a $2 million state grant to promote development and redevelopment in Blue Earth and Nicollet counties.
The Southern Minnesota Initiative Foundation also received $2.3 million to provide grants in the hospitality, retail, and child care industries specifically in the commercial corridors of Northfield, Blooming Prairie and other southern Minnesota communities.
The GMG funds will be focused on the Mankato and North Mankato City Center, the Highway 60/169 corridor, and the Highway 14 corridor.
The grants were awarded by the Department of Employment and Economic Development through its Main Street Economic Revitalization Program.
GMG will grant funds to business owners and developers within the three commercial corridors.
"Securing $2 million in funds to support development and redevelopment needs throughout main corridors within our region is incredible and we are excited to see the impact these grant dollars will be able to provide area businesses," GMG President and CEO Jessica Beyer said in a statement.
The program provides 30% matching grants designed to address the greatest economic development and redevelopment needs that have arisen in communities across Minnesota since the pandemic started.
