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| Date: | February 15, 2011 | | Contact Name: | Peter D. Winiecki | | Contact Phone: | 651-297-8077 | | Contact Email: | peter.winiecki@senate.mn | | For Immediate Release | |
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| GOODHUE AND WABASHA COUNTIES AWARDED FLOOD RECOVERY GRANTS |
(St. Paul) Efforts to recover and rebuild from damage sustained by the September 2010 flooding in Goodhue and Wabasha Counties will be aided by recently awarded grants from the Minnesota Investment Fund Flood Recovery Program.
Goodhue County was awarded $2,027,732 and Wabasha County was awarded $ 1,530,000. Both counties will make loans to businesses to assist in their recovery efforts from flood damage that ravaged much of southeastern Minnesota.
The Minnesota Investment Fund (MIF) Flood Recovery Program is administered by the Department of Employment and Economic Development. Under the program, MIF flood recovery funds are awarded to local units of government, which will then loan the assistance to businesses that were directly and adversely affected by the flood. The program is geared to fund capital expenses, re-establish operations, and ultimately retain and create jobs for businesses that were damaged in the floods and not adequately covered by insurance. Local units of government are responsible for developing their own loan criteria and guidelines.
“I’d like to offer my sincere congratulations to the county officials in both Goodhue and Wabasha County that worked so hard to develop excellent proposals that resulted in these grants,” said Senator John Howe (R-Red Wing). “This is a fine example of leaders in government following through on promises made to the citizens they represent. I couldn’t be more proud of all involved.”
The Department of Employment and Economic Development is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development.
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