S.F. No. 420, paragraph (a), appropriates $275,000 to the Department of Employment and Economic Development (DEED) for a grant to the Community and Economic Development Associates (CEDA) for an economic development study and analysis of the effects of current and projected economic growth in southeast Minnesota.
Paragraph (b) requires the study to address: (1) current and projected economic, fiscal, and demographic effects and issues; (2) direct and indirect costs and benefits; (3) positive and negative effects, including those upon workforce, taxation, and transportation; and (4) economic challenges and opportunities for economic growth or diversification.
Paragraph (c) specifies that the study be conducted by an independent organization with demonstrated knowledge in: (1) the economy and demography of Minnesota; (2) the medical and technology fields of southeast Minnesota; (3) technologies, markets, and other factors that have an impact on current and future economic growth in the region; and (4) the transportation, housing, and current infrastructure of southeast Minnesota.
Paragraph (d) requires the report to be submitted to the legislature by February 15, 2019, and the results and information gathered to be available for use by cities in southeast Minnesota by March 15, 2019.