Biobusiness project gets injection of DEED funding
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The Elk Run Biobusiness park project planned for an area near Rochester will get an injection of cash from the state.
The Minnesota Department of Employment and Economic Development will give the city of Pine Island a grant of $1.2 million to complete infrastructure projects on the site.
Elk Run is a proposed development in Pine Island, just north of Rochester. Investors are considering pushing more than a billion dollars toward the development. The Mayo Clinic has acknowledged being in talks with investors.
Last year DEED gave the city $600,000 to bring water and sewer lines to the site. That brings the total state investment to $1.8 million.
Investors in the Elk Run project have recently been meeting with state officials, an announcement regarding the project is expected in the coming days.
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