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DEED Doles Out $34 Million For Rural Broadband

by Admin

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Via News Release

“ST. PAUL, MN – Lt. Governor Tina Smith and the Department of Employment and Economic Development (DEED) today announced grants totaling $34 million for 42 broadband infrastructure projects that will provide 16,627 households, 2,240 businesses, and 71 community institutions across Minnesota access to reliable, affordable high-speed internet. The new state funding will help level the playing field for households and businesses in Greater Minnesota by providing them access the same opportunities available to urban area residents. Governor Dayton and Lt. Governor Smith secured the $34 million to expand high-speed internet access during the 2016 Legislative Session, after first proposing a $100 million investment.”

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ASTER Labs In Shoreview Is Developing IoT For The Elderly

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By Richard Chin, St. Paul Pioneer Press

screen-shot-2017-01-09-at-2-16-37-pm“Here are a few gadgets we might see in the near future: A where-did-I-put-my-teeth smartphone app to locate dentures equipped with special antennas. A hands-free car wash for your teeth. A robotic toenail trimmer.

It sounds like fodder for late-night infomercials.  But research on these devices is being conducted by scientists in a Shoreview company [Aster Labs] who typically work on aerospace projects.”

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Ovative/Group Plots North Loop HQ Relocation For 100+ Hires

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By Jon Collins, MPRnews

“A Minneapolis digital marketing and analytics firm is planning a multi-million dollar expansion that could create an estimated 100 new jobs within the next few years.

Ovative/group focuses on measuring the impact of digital marketing on both online and offline purchases, said Greg Engen, senior vice president of business development.”

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Minnesota Angel Investor Tax Credits Are Finally Gone For 2016

angel-tax-seal-minnesotaMinnesota’s Angel Investor Tax Credits (AITC) are finally gone for the year, according to Program Manager Jeff Nelson.

In 2016, $15.5 million in credits was available overall with half ($7.5m) in preferential treatment funds for minority-and women-owned businesses, as well as businesses located in Greater Minnesota.

$3.9m of that carve-out was not claimed and reverted back to the general pool at the end of September, since allocated.

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Dallas-Based Stream Data Centers To Develop $250m Chaska Site For U.S. Bank

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screen-shot-2016-12-21-at-9-39-42-amBy Matt Johnson, Finance and Commerce

“Minneapolis-based U.S. Bank will start building a $250 million data center in Chaska this spring to add information storage to the bank’s computer network.

The bank, whose parent company’s assets exceed $450 billion, will get at least $835,000 in grants and abatements from the state of Minnesota and Chaska to pay for the center. Officials say the public aid was worth keeping the project from going to another state.”

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Coming Soon: Welfare Watch

by The TECHdotMN Team

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Starting in January 2017, we will publish a new monthly column related to a potential financial element of owning and operating a technology company in Minnesota.

Welfare Watch will spotlight individuals, nonprofit and private companies in the local tech industry who are receiving government (read: taxpayer) financial support or subsidy — tax incentives, grants, interest free loans, reimbursements, special favors — whether directly or indirectly.

The column will be forward looking in the sense that only corporate welfare happening in January 2017 and after will be watched.

 

 

 

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