Woodbury Sen. Susan Kent Proposes Bill for Economic Development in Maplewood

Press release

State Senator Susan Kent’s bill allowing the city of Maplewood to create tax increment financing (TIF) districts was heard in the Taxes committee this week.

The potential new TIF districts are aimed at the “3M Renovation and Retention Project Area” near McKnight Road and Conway Ave. Allowing this change would give 3M the opportunity to create a new research and development lab. This move would help 3M retain at least 700 jobs and create hundreds of construction jobs while building the new $150 million facility.

“Anything we can do to help businesses in Minnesota continue to grow and invest in Minnesota is a good thing,” said Senator Kent. “This is another example of private business coming together with local and state government to find a solution that works for everybody and helps create jobs.”

3M plans to donate the land immediately north of the lab to the City of Maplewood, where a new fire station and Emergency Operations Center will be constructed. With the current TIF statutes, there isn’t sufficient support for both projects to advance. However, if this legislation passes, both projects would be able to proceed.

“This is a common sense, win-win situation for the people of Maplewood. I look forward to continuing the discussion with business leaders and elected officials to find a way to grow our economy,” said Senator Kent.

This bill was held over in committee to be brought up at a later date.