Mankato to get largest economic development grantPublished 9:32am Monday, July 8, 2013
MANKATO — Mankato is expected to receive Minnesota’s largest ever economic development grant.
The grant from federal Economic Development Agency is $9.8 million and it’s going to be used to raise Highway 169 between Mankato and Saint Peter. Officials are hoping to keep that stretch from flooding again after seven floods in the past 20 years, including 2010 and 2011.
Nicole Griensewic is executive director of the Region Nine Development Commission, which worked with Minnesota transportation officials to apply for the grant. She said the typical EDA grant is around $1 million.
According to the grant request, the project will mean 500 new jobs and an additional $10 million dollars in new investment.
The project is planned for 2016.