On Wednesday morning, Mayor Coleman gathered with the Saint Paul City Council, Saint Paul Area Chamber of Commerce President Matt Kramer, and Saint Paul Building and Construction Trades Council Spokesman Tommy McCarthy at the corner of 5th Street and Wall.
While overlooking the future site of the Lofts at Farmer’s Market, Mayor Coleman launched Rebuild Saint Paul, a $15 million project which takes advantage of more than $1 billion in investment to create over 3,000 new jobs in Saint Paul.
Rebuild Saint Paul will invest in projects across Saint Paul in order to spark economic growth and grow jobs. By utilizing federal funding and collaborations with city partners, Saint Paul is aggressively investing in local development including the Central Corridor Light Rail Transit, Lafayette Bridge, and Cayuga Bridge projects. Saint Paul will not only increase the value of its assets, but also put residents back to work.
As Mayor Coleman said on Wednesday morning, this economic strategy includes every available tool: utilizing private partnerships, combining bonding, state, and federal funds, as well as taking advantage of the Minnesota Jobs Bill, Build America Bonds, and tax increment financing.
With this effort, the city will get 15 projects off the page – and get cranes into the air. Projects include: Lofts at Farmer’s Market, Penfield, Cossetta’s Alimentari expansion, Frogtwon Square, J and J Distributing Urban Farms, a health clinic, Westside Flats, Schmidt Brewery, the Como Aquatic Center, Highland Park Aquatic Center, and Payne Maryland Town Square. Members of the City Council were enthused about the positive impact of the project.
As the Mayor emphasized, “Saint Paul is open for business.” Rebuild Saint Paul will revitalize the City, create jobs for residents, and encourage economic growth, positioning Saint Paul to lead the nation out of the recession.