Minnesota Governor Tim Walz has signed into law the State Competitiveness Fund (SF1622/HF1656), which will position the state and its communities to take full advantage of federal funding opportunities through the Infrastructure Investment and Jobs Act (IIJA) and Inflation Reduction Act (IRA).
As a special revenue fund of the State Treasury, the State Competitiveness Fund will enable Minnesota agencies, political subdivisions, and tribes or projects with Minnesota-based partners to provide cost match and access grant development assistance for applications for federal funding opportunities. According to the Minnesota Department of Commerce, the fund provides:
- $100 million for nonfederal match requirements.
- $6.75 million for technical assistance and outreach
- $6 million for local grant development assistance to provide applicant technical assistance in accessing federal energy funds.
- $750,000 for required reports and audits through 2035.
- $1.5 million for information system development to support the program.
The $115 million dollar State Competitiveness Fund legislation received bipartisan support. For more information and to stay up to date on federal funding opportunities and developments in Minnesota, visit the Department of Commerce’s Federal Funding Opportunities webpage.