SF1453

The proposed bill, S.F. No. 1453, involves financial support for small manufacturing businesses in Minnesota. It allocates $1,000,000 in fiscal year 2026 and another $1,000,000 in fiscal year 2027 from the state's general fund. The funds are designated for Enterprise Minnesota Inc., which will use this money to provide various services to small manufacturing companies. These services include talent acquisition, leadership training, employee retention, continuous improvement strategies, quality management systems, revenue growth, and peer advisory services. Companies eligible for these services must have 250 or fewer full-time employees.

Additionally, Enterprise Minnesota Inc. is required to report back to the legislative committees responsible for economic development on several aspects: the allocation of funds, the financial impact on the companies served, past financial outcomes, and any federal funds obtained through the Manufacturing Extension Partnership at the U.S. Department of Commerce.

Moreover, the bill includes a directive to update legal terminology, changing the term "small business growth acceleration program" to "Made in Minnesota program" in the relevant section of the Minnesota Statutes.