Minnesota
Minnesota's budget forecast shows improvement, $3.7B surplus projected
ST. PAUL, Minn. (FOX 9) – Minnesota’s budget and economic outlook has shown improvement since the last budget forecast, Minnesota Management and Budget (MMB) said Thursday.
The 2024-25 biennium is now projected to end with a surplus of $3.715 billion, which is an increase of $1.324 billion compared to the projections in November, MMB said. However, a budget deficit does loom.
“The near-term economic outlook has improved, with growth expected to persist through 2027,” MMB’s website states. “Higher collections so far this fiscal year raise the current biennium forecast for all major tax types. Corporate tax revenue shows the largest change, driven by higher-than-expected corporate profits through the forecast horizon. Spending estimates are largely unchanged from November.”
MMB added, “The higher revenue forecast throughout the FY 2024-27 planning horizon results in improvement to the structural budgetary balance, but spending is still projected to exceed revenue through FY 2027.”
Every two years, Minnesota politicians create a state budget, which they passed last spring. The projected budget surplus will allow Democrats to continue to shape state priorities as the party deems necessary, having control of the House, Senate, and governor’s office.
This is a developing story. Officials plan to hold a press conference at 8:30 a.m. Watch it live in the player above.
MINNEAPOLIS (FOX 9) – Expect a sunny Saturday with heat expected to build up this weekend before an even hotter work week.
Saturday forecast
Local perspective:
Winds stay light out of the south with plenty of sunshine today.
There are hints of an extremely isolated thundershower, but the chance of that happening over any given area is extremely small.
Expect highs to peak in the upper 80s with dew points in the mid to upper 60s this afternoon.
Extended forecast
What’s next:
This forecast is hot.
Highs will peak in the 90s every day this upcoming week for the Twin Cities and a large portion of the area as well.
Dew points really don’t look to surge into the 70s but mainly stay in the lower to upper 60s depending on the day of the week.
Little to no precipitation forecast this upcoming week. Expect dry and sunny days.
The Source: This story uses information from the FOX 9 weather forecast.
BEMIDJI — The Minnesota Department of Employment and Economic Development recently announced over $1.4 million in child care economic development grants, including a $200,000 award to the
Northwest Minnesota Foundation
in Bemidji.
Split between 11 programs and organizations around the state, more than 80% of the awarded funds support programs in Greater Minnesota, with the aim of creating more than 1,100 new child care slots.
“Affordable, reliable child care is essential for a thriving economy,” DEED Commissioner Matt Varilek said in a release. “These grants are supporting working families by ensuring Minnesota parents are able to work knowing their child is well cared for by some of the best caregivers in the nation. We’re also helping employers retain talent and working together to establish the foundation for long-term economic vitality.”
DEED’s Child Care Economic Development Grant program provides funding to organizations and communities to invest in new or expanding child care businesses, including facility improvements, worker training, attraction, retention and licensing, and other strategies to address the child care shortage.
Since the office’s inception in July 2023, DEED has awarded over $13 million in grants to 56 organizations to fund child care startups or business expansions, resulting in over 4,000 new child care slots.
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