The Minnesota Senate Capital Investment Committee made its way to Trystar in Faribault Tuesday, Nov. 16, as part of a bonding tour and saw first-hand just how effectively the City has utilized Business Development Public Infrastructure (BDPI) program dollars.
Locally, the BDPI grants - which fund public infrastructure improvements that promote future economic development - have supported the development of infrastructure needed for the Faribault Foods expansion ($840,000), Daikin Applied expansion ($795,000), and most recently, the water tower ($2 million) planned for 2022 in the industrial park, just across the road from Trystar.
Minnesota Department of Employment and Economic Development makes the grants eligible to counties or cities that provide up to 50 percent of the capital costs of public infrastructure necessary for an eligible economic development project. The purpose of the grants is to keep or enhance jobs in the area, increase tax base, or to expand or create new economic development, which has been a large success in Faribault.
Also during the tour, senators heard about the request for bonding dollars to build the Northern Links Trail, which would substantially improve the safety of trail-users in Faribault. The trail, proposed to go under the railroad just south of Hwy. 3 (20th Street NW), is only 0.25 mile in length but comes with a price tag of $1.1 million due to having to go under the rail line. Currently, trail-users must ride in the narrow shoulder along the road, just feet from traffic, including semi-trailers. The Faribault Parks and Recreation Department has already successfully obtained partial funding for project, and only $405,000 is needed to move it forward.
The bonding committee is touring communities to see first-hand a number of projects that are seeking to be including in next year’s bonding bill. For scale, capital requests have nearly hit $5.5 billion, while the last bill in 2020 was just shy of $2 billion.
Those on the committee include the following:
- Chair: Senator Tom Bakk (I-Cook)
- Vice-chair: Senator David Senjem (R-Rochester)
- Ranking member: Senator Sandy Pappas (DFL-St. Paul)
- Senator Bobby Joe Champion (DFL-Minneapolis)
- Senator Gary Dahms (R-Redwood Falls)
- Senator Gene Dornink (R-Hayfield)
- Senator John Jasinski (R-Faribault)
- Senator Ann Johnson Stewart (DFL-Wayzata)
- Senator Eric Pratt (R-Prior Lake)
- Senator Chuck Wiger (DFL-Maplewood)
Trystar, a leading provider of industrial and portable power products, has continued to grow in Faribault. After moving into its current location on Acorn Trail in 2020, it has twice made an expansion to further grow its footprint and employee base.