Governor Walz announces record number of jobs created from public-private partnerships

Thursday, Minnesota Governor Tim Walz announced that state business programs have helped create or retain a record 4,750 jobs in Minnesota this fiscal year.

According to the the Governor’s Office: Since July 1, 2024, the Department of Employment and Economic Development’s (DEED) Job Creation Fund and Minnesota Investment Fund have supported 23 business expansions that will collectively create or retain nearly 4,750 jobs – the most since the programs’ inception in 2004. The two programs have provided $35 million in funding, leveraging nearly $1.2 billion in outside business investment this fiscal year. 

Governor Walz says, “We’re proud to support the growth and expansion of strong businesses that are tackling some of our world’s greatest challenges, while creating thousands of good-paying jobs for Minnesota families.”

Along with DEED, the Governors Office says the Job Creation Fund, The Minnesota Investment Fund, and Minnesota Forward Fund form the core of DEED’s business financing operations.

They mention Last fiscal year, the three programs leveraged nearly $1.5 billion in outside investment for business expansions around Minnesota, creating or retaining 3,500 new jobs.