On Monday, the Minnesota Senate passed a bipartisan jobs budget that advances Minnesota by encouraging growth in our state’s economy. The compromise bill, S.F. 1456, focuses on increasing public and private partnerships to help grow wages, improve local infrastructure and increase labor participation.
Included in the bill are several provisions that benefit Senate District 1, with two specific provisions advanced by Senator Johnson to help Thief River Falls bring in new jobs through the Digi-Key expansion.
“This year’s job budget is a bipartisan piece of legislation that encourages economic growth across our state and district,” said Senator Mark Johnson, (R-East Grand Forks). “I’m thankful that we were able to include two provision that will directly benefit our district. Through this public-private partnership we’ll not only be able to keep a great Minnesota company local, but also bring in many new high paying jobs in the process.”
The legislation includes $4,000,000 loan from existing Minnesota Investment Fund (MIF) to Digi-Key over the biennium. The investment funds will assist the company with their facilities expansion, helping to offset of capital expenditures,
In addition to the loan from the Minnesota investment fund the jobs bill includes a $1,600,000 grant for Thief River Falls from the Greater Minnesota Public Infrastructure Program. These funds will be used to help the city expand infrastructure, such as roads and utilities, to support the expanded facility and the influx of workers.
The Digi-Key expansion is expected to bring one thousand new jobs to the area over ten years. With an average salary of $62,040, Minnesota is expected to see an additional $35 million added to the state’s annual payroll.