The purpose of the Strategic Investment Fund is to attract businesses to Saint Paul whose local operations will do the most to expand the City's economy.
- Must be a for-profit business.
- Must be currently located outside of Saint Paul city limits.
- Must have a record of profitability over the preceding two years.
- Must be constructing, purchasing or leasing (minimum five years) commercial or industrial space in Saint Paul.
- The Program establishes additional evaluation criteria measuring positive economic impacts.
- Be willing to participate in the Metropass Program to encourage transit use.
Eligible businesses are evaluated according to historical performance, current distance from Saint Paul, wages and salaries of employees, growth potential, the amount of revenue generated outside the Twin Cities market area, and whether the Saint Paul location will be their corporate headquarters. The total score determines the potential amount of incentive financing available for each full time equivalent employee the company agrees to employ in Saint Paul.
Technical assistance is provided to all firms receiving program funds in order to comply with all state and local policies such as prevailing wage standards for construction, affirmative action/equal employment opportunity, targeted business program, and the First Source employment program. Loans can be forgiven if employment and transit investment goals are met.