[UPDATED] Why Is DEED Trying To Put Minnesota’s Tech Entrepreneurs Into Debt?

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[UPDATED 10/30/18 10:30 CST] Two tech companies that have received MILE loans to date include: UR Turn ($50k) & Thrivors ($46k).

Minnesota’s Department of Employment and Economic Development aka DEED recently launched a new debt financing program targeting local early stage tech entrepreneurs called Minnesota Innovation Loans for Entrepreneurs (MILE).

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Fond Du Lac Indians Are Creating Their Own Broadband Provider

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Via Star Tribune

“Providing high-speed internet in rural Minnesota today is as vital as providing rural electricity was some 80 years ago, said Jason Hollinday, planning director for the Fond du Lac Band of Lake Superior Chippewa.

That’s why the band has taken the unusual step of creating its own broadband company to provide fiber-optic internet service throughout its reservation, about 20 miles west of Duluth.”

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Electronics Recycler Tech Dump Doubles Footprint With New 90k Sq. Ft. Building In St. Paul

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Via News Release

Tech Dump, a Twin Cities based electronics recycler and social enterprise that has been steadily in growth mode since its inception in 2011, has signed a purchase agreement for a 90,000 square foot building at 860 Vandalia Street in St. Paul. This more than doubles their existing square footage and capacity to recycle and refurbish old tech items while providing jobs training.”

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[UPDATED] PRM Sues DEED & GreaterMSP Over Withholding Of Amazon HQ2 Bid

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Updated 8/13: PRM has added GreaterMSP to an amended lawsuit on multiple counts while DEED still maintains it “never collected, received, maintained or disseminated the unsuccessful proposal that is the subject of the complaint.”

“Minnesotan’s deserve to know…” Ehling told Minnesota Lawyer in a recent article.

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How Two Local Tech Companies Are Turning The Public’s Money Into Their Private Profits

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By Amanda Ostuni, Twin Cities Business

“The Minnesota Department of Employment and Economic Development (DEED) has awarded more than $560,000 total in grants to four businesses in four separate cities. The funds will come from DEED’s Job Creation Fund with an expectation that the projects will create 49 new jobs.

The grants will go toward expansion projects for Stoneridge Sofware, Inc.. in Barnesville; Modern Automotive Performance in Cottage Grove; Vickerman Company in Norwood Young America; and Cantilever Bridge Distillery LLC in Ranier.”

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Proto Labs Gets Corporate Welfare Money From Taxpayers For Brooklyn Park Building

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Via News Release

“ST. PAUL – Custom manufacturer Protolabs Inc. will invest $29.9 million to expand to a new site in Brooklyn Park.

The Maple Plain-based company has purchased a 152,000-square-foot building in Brooklyn Park and plans to add another 50,000 square feet to the structure. The investment also includes additional manufacturing equipment to support anticipated future growth. Company officials said they will move their CNC machining operations from Plymouth to the new site, while retaining the Plymouth facility for their injection molding operations.”

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Broadband Group Wants Another $35 Million In Corporate Welfare

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By Jessie Van, Berkel Star Tribune

“Minnesota spent tens of millions of dollars expanding high-speed broadband internet in recent years, but nearly $1.4 billion in public and private investment is still needed to get access to all households, according to a state task force report.”

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