Through the Minnesota Medical Manufacturing Partnership (MMMP), the Greater St. Cloud Development Corporation and regional centers in Mankato, Rochester and Minneapolis/St. Paul area will have access to substantial funding from the U.S. Department of Commerce to ensure more medical devices developed in Minnesota are also manufactured in the region.
As a university with three strong MedTech programs, St. Cloud State University is a Greater St. Cloud Development Corporation partner and a supporter of the MMMP.
The corridor is one of 12 community regions designated Manufacturing Communities by the U.S. Department of Commerce through the Obama administration’s Investing in Manufacturing Communities Partnership (IMCP) initiative.
The 12 communities will have access to more than $1 billion in funding to accelerate the resurgence of manufacturing in the United States and will receive support for their long-term economic development strategies from 11 federal agencies.
Each region will work with designated liaisons from the federal agencies to navigate the available resources.
The MMMP region is home to Medtronic and the Mayo Clinic and leads the nation in bringing new medical devices to market with 40 percent of new devices approved in the past five years coming from the region.
“An IMCP designation is an important signal to potential investors that these communities are a good place to spend their money, and this is smart government at work,” said Secretary Pritzker. “By breaking down silos and encouraging communities to take a more thoughtful, comprehensive approach to their strategic plans, we are ensuring that precious federal dollars are used on the most high impact projects and in a way that maximizes return on investment.”
The 12 communities earned the distinction based on the strength of their economic development plans, the potential impact in their communities and the depth of their partnerships across the public and private sectors to carry out their plans.