Gov. Mark Dayton introduced his administration’s plan for capital investment today, which proposes borrowing near $1 billion for infrastructure, education, economic development, and other projects around the state. Projects related to education and economic development make up the largest share of the bonding dollars—together, those categories constitute 51% of total investment.
The largest single project is the ongoing restoration of the State Capitol, to which the Dayton plan would allocate $126.3 million. Dayton, in remarks to the press, emphasized the need to make improvements to downtown districts in multiple cities and regional centers that he said would create jobs, attract additional private investment, and support economic development. Other projects making the cut include:
• Renovations at the Minnesota Security Hospital ($56 million) and Sex Offender Treatment Facility ($7 million) in St. Peter
• Mankato ($14.5 million) and Rochester ($37 million) Civic Centers
• Asset preservation and replacement at MnSCU and U of M campuses ($80 million)
Click for the summary of the governor’s recommendations and capital budget presentation from MMB.