Gov. Walz Announces Economic, Workforce Investments as Part of Budget Proposal
Gov. Tim Walz announced another part of his two-year state budget proposal today that includes investing $4.1 billion into Minnesota’s economic future.
Main points of this budget include investing into paid family and medical leave, strengthening small businesses in Minnesota, and expanding the state’s workforce in critical sectors.
Walz and his team recommended putting $30 million into the Drive for 5 Workforce Fund. This fund will prepare workers when entering into the five most critical work sectors: caring professions, education, manufacturing, technology, and trades.
To bolster small businesses, a recommended $18.5 million is needed for three different small business programs. Another $20 million would be for funding in the Angel Tax Credit.
This budget would also look to support local farmers with an investment of over $100 million. By providing grants to livestock owners, the business would expand and sales would increase.
It would also continue the Agricultural Growth, Research, and Innovation (AGRI) program and aim to support upcoming farmers. The Walz administration says this will be the largest agricultural budget in the state’s history.
Finally, as part of Walz’s plan to protect the state’s environment, this budget would look to restore 6,000 acres of grasslands and wetlands on already existing public lands. It would also fund the Habitat Enhancement Landscape Program.
Additional components of the One Minnesota Budget will be announced next week and have portions on health and safety, tax cuts, and improving the state’s infrastructure. The entire governor’s budget will be released on Jan. 24.
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