Governor Tim Walz and Lieutenant Governor Peggy Flanagan today announced their 2022 Local Jobs and Projects Plan – their capital investment recommendation for the upcoming legislative session. The $2.7 billion plan invests in critical projects that preserve existing infrastructure and historical assets, address current needs in communities across the state, and build a stronger future for Minnesota.
“In 2020, we passed the largest jobs bill in state history, investing in the projects that local communities told us matter most to them. Now with Minnesota’s strong economic outlook, we have an opportunity to make even more progress,” said Governor Walz. “With a focus on projects like roads, bridges, fire stations, and veterans homes, our plan will repair and replace critical infrastructure and improve the lives of Minnesotans in every corner of the state.”
“Our 2022 Local Jobs and Projects plan will help build stronger, safer, and more equitable communities across the state,” said Lieutenant Governor Peggy Flanagan. “Whether it’s expanding access to safe and affordable housing, building safer roads and bridges, upgrading higher education facilities, or investing in organizations serving Black, Native, and communities of color, we have an opportunity to make transformative change in communities across the state.”
The 2022 Local Jobs and Projects Plan includes $2 billion in General Obligation Bonds, $250 million in Appropriation Bonds, and $276 million in General Fund cash. General Obligation Bonds are backed by the state’s full faith and credit and finance publicly owned capital projects. Appropriation bonds are repaid through annual appropriations from the Legislature and can be used to finance a broader range of capital projects.
