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HF 2111

Fursad Fund Initiative grant funding provided to support small businesses in greater Minnesota through technical assistance, capacity building, and access to capital; and money appropriated.

2025-2026 Regular Session Introduced by Dan Wolgamott

Establishes the Fursad Fund Initiative grants to support greater Minnesota small businesses with technical assistance, capacity building, and improved access to capital via DEED.

Introduction and first reading, referred to Workforce, Labor, and Economic Development Finance and Policy
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Bill Summary · HF 2111

HF 2111 — Fursad Fund Initiative Grant Funding (Greater Minnesota)

Overview

HF 2111 proposes a grant program called the Fursad Fund Initiative to support small businesses located in greater Minnesota. The funding would be used for technical assistance, capacity building, and improved access to capital. The bill contemplates an appropriation to fund these grants and would be administered by the Minnesota Department of Employment and Economic Development (DEED). The companion Senate bill is SF 2219.

  • Introduced: March 10, 2025
  • Status: Introduction and first reading; referred to the committee on Workforce, Labor, and Economic Development Finance and Policy
  • Subject: Employment and Economic Development Department

Purpose and intent

  • Provide targeted financial and technical support to small businesses in greater Minnesota.
  • Build business capabilities (capacity building) and improve access to capital through grant funding.
  • Strengthen economic development in non-metropolitan areas by leveraging technical assistance and resources.

Key provisions (as introduced)

  • Establishment of the Fursad Fund Initiative grant program to fund small businesses in greater Minnesota.
  • Grants would be used for:
    • Technical assistance
    • Capacity building
    • Access to capital
  • Authorized funding would come from money appropriated by the legislature (the bill states “and money appropriated,” with no specific dollar amount identified in the information provided).
  • Administration and program oversight would be managed by DEED (the bill’s subject indicates involvement by the Employment and Economic Development Department).

Funding and fiscal notes

  • The bill contemplates appropriation to support the Fursad Fund Initiative grants.
  • No specific dollar amounts or funding timeline are provided in the available information; amounts would be determined through future amendments and the legislative process.

Who would be affected

  • Primary: Small businesses located in greater Minnesota that would receive grants for technical assistance, capacity building, and improved access to capital.
  • Secondary: Entities delivering technical assistance and capacity-building services; DEED as administrator of the program.

Procedural and timeline aspects

  • Introduction and first reading occurred on March 10, 2025.
  • The bill has been referred to the House committee on Workforce, Labor, and Economic Development Finance and Policy.
  • A Senate companion exists (SF 2219), indicating parallel consideration in the Senate.

Related legislation

  • SF 2219 (Senate companion bill)

Potential impact and considerations

  • If enacted, could provide a structured funding mechanism to bolster the capabilities and growth of small businesses in greater Minnesota, potentially supporting job creation and local economic development.
  • The effectiveness would depend on the program’s design details, including eligible activities, grant sizes, selection criteria, reporting requirements, accountability measures, and the total appropriation.
  • Key questions for the committee: What defines “greater Minnesota” for eligibility? How will grant amounts be determined? What outcomes will be tracked? What申sunsetting or evaluation provisions will apply?

This summary covers the information publicly available about HF 2111 as introduced. Further amendments and fiscal notes would clarify specifics such as funding levels, eligibility criteria, and performance metrics.

Compiled from official sources — confirm details with the bill’s official record.

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