2024-10-21T15:44:40-05:00 2023-12-31 420714325 RSM US LLP 227 WEST FIRST STREET SUITE 700 DULUTH MN 55802 990 2023-01-01 274026636 MINNEAPOLIS SAINT PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP MINN 6512871365 370 WABASHA ST NORTH 1900 SAINT PAUL MN 55102 PETER FROSCH PRESIDENT AND CEO 6512871365 2024-10-15 1 0 JULIE BOYER P01278549 2187275025 2024-10-15 2023 2024-10-15 13:58:12Z X GREATER MSP PETER FROSCH 370 WABASHA ST NORTH 1900 SAINT PAUL MN 55102 8008937 0 X WWW.GREATERMSP.ORG X 2010 MN THE MISSION OF THE GREATER MSP PARTNERSHIP IS TO ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND EXECUTION OF STRATEGIC INITIATIVES. THE PARTNERSHIP WORKS TO STRENGTHEN OUR REGION'S GLOBAL SECTORS, PRIORITIZE TALENT, AND TELL OUR STORY. 33 32 27 800 0 0 6786205 7955362 0 0 10230 53575 0 0 6796435 8008937 130183 27000 0 0 3897476 4295208 0 0 171307 2862966 3312929 6890625 7635137 -94190 373800 5387494 6398281 1000340 1616814 4387154 4781467 X THE MISSION OF THE GREATER MSP PARTNERSHIP IS TO ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND EXECUTION OF STRATEGIC INITIATIVES. THE PARTNERSHIP WORKS TO STRENGTHEN OUR REGION'S GLOBAL SECTORS, PRIORITIZE TALENT, AND TELL OUR STORY. 0 0 5873525 27000 GREATER MSP PARTNERSHIP WAS CREATED A DECADE AGO TO BE A SHARED SPACE WHERE LEADERS AND ORGANIZATIONS OF ALL TYPES COULD COME TOGETHER AND BUILD THE ECONOMY FOR THE BENEFIT OF THE RESIDENTS OF THIS REGION. WE ARE REALIZING THIS VISION AS A CROSS-SECTOR, WORKING PARTNERSHIP THAT TOUCHES EVERY CORNER OF THE 15-COUNTY MINNEAPOLIS-SAINT PAUL METRO. THIS PARTNERSHIP INVOLVES MORE THAN 4,500 INDIVIDUALS FROM OVER 350 LEADING COMPANIES, CITIES, COUNTIES, FOUNDATIONS AND UNIVERSITIES, WORKING TOGETHER TO ACCELERATE GLOBAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH IN MINNEAPOLIS-SAINT PAUL. OVER 120 OF THESE PARTICIPATING ORGANIZATIONS INVEST FINANCIALLY, WITH DOZENS MORE INVESTING THEIR TIME AND ALIGNING THEIR RESOURCES BEHIND EXECUTION OF THE REGIONAL STRATEGY. GREATER MSP IS A LARGE AND GROWING WORKING PARTNERSHIP OF COMMUNITY AND BUSINESS LEADERS AND ORGANIZATIONS FROM ACROSS THE REGION. TOGETHER, WE SHAPE AND EXECUTE A SHARED REGIONAL ECONOMIC DEVELOPMENT STRATEGY FOCUSED ON: JOB GROWTH, STARTUPS & INNOVATION, TALENT MIGRATION, RACIAL INCLUSION, SKILLS & WORKFORCE, REGIONAL IMAGE, AFFORDABILITY, TRANSPORTATION & MOBILITY, AND NEW CLIMATE ECONOMY. THIS STRATEGY SUPPORTS US AS WE EXECUTE ON OUR VISION FOR THE MINNEAPOLIS-SAINT PAUL REGION TO LEAD THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT AND IGNITING INNOVATION. GREATER MSP HAS BECOME A LARGE AND DIVERSE ECOSYSTEM OF ORGANIZATIONS BUILDING INNOVATIVE SOLUTIONS, SETTING AUDACIOUS LONG-TERM AMBITIONS AND BREAKING THROUGH LONGSTANDING BOUNDARIES BY HARNESSING THE POWER OF CROSS-SECTOR COLLABORATION. STAFF OF THE ORGANIZATION SUPPORT THE PARTNERSHIP IN EXECUTING THIS STRATEGY BY SUPPORTING PLATFORMS FOR BUSINESS INVESTMENT, MSP STORYTELLING, AND STRATEGIC INITIATIVES THAT ARE SUPPORTED BY A RESEARCH & INTELLIGENCE DEPARTMENT. THE GREATER MSP PARTNERSHIP HAS DEMONSTRATED THE CAPABILITY OF GENERATING SIGNIFICANT ECONOMIC OPPORTUNITY FOR PEOPLE IN THE REGION. GREATER MSP HAS BEEN BUILDING ON OUR ORIGINAL SCOPE TO ENSURE THAT EVERY MEMBER OF OUR COMMUNITY CAN ACCESS GOOD JOBS AND ECONOMIC OPPORTUNITY. THIS EMPHASIS ON INCLUSIVE GROWTH HAS POWERED AN EXPANSION IN GREATER MSP'S SCOPE, CAPACITY AND BREADTH OF PARTICIPANTS. A DECADE OF DATA POINT TO TWO CHIEF CHALLENGES FOR THE REGION: ADVANCING RACIAL EQUITY AND ACCELERATING THE GROWTH OF QUALITY JOBS. GREATER MSP RECOGNIZES THESE CHALLENGES AS INTERDEPENDENT AND IS COMMITTED TO INVESTING IN EQUITY AS A GROWTH SOLUTION. THE VISION, MISSION AND VALUES FOR THE GREATER MSP REGION AND PARTNERSHIP INCLUDE:REGIONAL VISIONTHE GREATER MSP REGION LEADS THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT AND IGNITING INNOVATION.PARTNERSHIP MISSIONTHE GREATER MSP PARTNERSHIP WILL ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND THE EXECUTION OF STRATEGIC INITIATIVES.PARTNERSHIP VALUESACCOUNTABILITY | ALIGNMENT | INCLUSION | INNOVATION | TRANSPARENCY GREATER MSP IS HOW LEADERS AND ORGANIZATIONS COME TOGETHER TO TAKE ACTION AND DRIVE OUR ECONOMY FORWARD. BY ALL MEASURES, 2023 WAS A YEAR OF PRODUCTIVITY, INNOVATION AND SUCCESS. THANKS TO THE WORK OF OUR PARTNERSHIPNOT JUST OUR STAFF, BUT THE ENTIRE COALITION - WE EXECUTED THE REGIONAL GROWTH STRATEGY WITH 50 PROJECTS ACROSS THE ENTERPRISE. OVER 800 LEADERS FROM ACROSS THE REGION ACTIVELY PARTICIPATED IN THIS WORK. THE RESULTS BELOW ARE HIGHLIGHTS AMONG DOZENS. TAKEN AS A WHOLE, THE SCALE AND BREADTH OF ACCOMPLISHMENTS SET AN ALL-TIME HIGH FOR OUR REGIONAL PARTNERSHIP.BUSINESS INVESTMENTBUSINESS INVESTMENT HELPS EXISTING EMPLOYERS EXPAND THEIR OPERATIONS WHILE ATTRACTING NEW COMPANIES TO LOCATE, INVEST AND CREATE JOBS IN THE GREATER MSP REGION. AS A RESULT OF OUR EFFORTS, AND WORKING IN CONCERT WITH OUR REGIONAL PARTNERS, WE SUCCESSFULLY COMPLETED 15 PROJECTS THAT RESULTED IN 772 JOBS. IN ADDITION, THE REGION BENEFITED FROM OVER $552 MILLION IN NEW CAPITAL INVESTMENT IN NEW/EXPANDED BUSINESS LOCATIONS.RESEARCH & INTELLIGENCEGREATER MSP IS THE REGIONAL SOURCE OF TRUSTED, UNBIASED DATA ON THE REGIONAL ECONOMY. DATA, ANALYTICS AND INTELLIGENCE ARE INTEGRATED AND LEVERAGED TO DELIVER HIGH-VALUE INSIGHTS THAT DRIVE THE DEVELOPMENT OF REGIONAL STRATEGY, ENABLING THE PARTNERSHIP TO LEAD GLOBALLY IN AN INCREASINGLY COMPLEX ECONOMIC LANDSCAPE. OUR RESEARCH AND INTELLIGENCE PLATFORM CREATES ECONOMIC DATA AND INSIGHTS, LIKE THE MSP REGIONAL INDICATORS DASHBOARD, THAT WE USE TO FOCUS AND PRIORITIZE. MSP STORYTELLINGOUR VISION FOR THE GREATER MSP REGION IS TO LEAD THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT AND IGNITING INNOVATION. AS OUR REGION'S RESIDENTS WORK TOGETHER TO BUILD THIS WORLD-CLASS ECONOMY AND QUALITY OF LIFE WHILE SOLVING SOME OF THE GREATEST CHALLENGES OF THE 21ST CENTURY IN FOOD, WATER AND HEALTH, WE ARE PROUD TO SHARE THEIR STORIES. IN 2023, GREATER MSP CONTINUED TO DEVELOP A VARIETY OF TOOLS AND VEHICLES TO BRAND AND MARKET THE GREATER MSP REGION; EXAMPLES INCLUDE A REFRESHED GRAPHIC IDENTITY FOR GREATER MSP, VIDEOS FOR THE ANNUAL NEXT EVENT, AN INVESTOR SOCIAL PROMOTION SERIES, MONTHLY ENEWSLETTERS AND MATERIALS TO SUPPORT NATIONAL INVESTMENT CONFERENCES LIKE BIO AND INTERNATIONAL TRADE MISSIONS TO AUSTRALIA, JAPAN AND GERMANY.MAKE IT. MSP.MAKE IT. MSP. BRINGS MANY OF THE REGION'S LARGEST EMPLOYERS TOGETHER TO WORK WITH COMMUNITY AND EDUCATIONAL PARTNERS TO ATTRACT AND RETAIN PROFESSIONALS TO THE REGION. WE HAVE WORKED TOGETHER TO CREATE A WEALTH OF TALENT RESOURCES, WITH SPECIAL ATTENTION TO RETAINING PROFESSIONALS OF COLOR IN OUR REGION. IN 2023, MAKE IT. MSP.:- ENGAGED 300 INTERNS ACROSS 74 ORGANIZATIONS AT THE WEEK-LONG DISCOVER MSP EVENT.- HOSTED 10 SIGNATURE AND VIRTUAL EVENTS FOR MSP INTERNS HOSTED THROUGHOUT DISCOVERMSP WEEK.- GATHERED NEARLY 90 LEADERS FROM ACROSS THE GREATER MSP PARTNERSHIP FOR THE "WINNING ON TALENT" WORKSHOP TO ALIGN MSP AROUND A COMPREHENSIVE STRATEGY TO FULLY DEVELOP AND RETAIN THE REGION'S ENTIRE POTENTIAL WORKFORCE WHILE ALSO ATTRACTING ADDITIONAL TALENT- MODERATED PANELS AT THE ANNUAL YOUNG, SMART AND LOCAL CONFERENCE, HELD IN NEW ORLEANS TO ENGAGE LEADERS FROM HIGHER EDUCATION, BUSINESS, GOVERNMENT, ECONOMIC DEVELOPMENT AND COMMUNITY ORGANIZATIONS ON BEST PRACTICES AROUND TALENT ATTRACTION, GROWTH AND RETENTION.FORGE NORTHLED BY A GROWING COALITION OF MORE THAN 150 ALLIES, FORGE NORTH IS A MOVEMENT TO ACCELERATE STARTUPS AND INNOVATION ACROSS THE REGION. IN 2023, FORGE NORTH:- RAISED CAPITAL FOR THE FIRST VENTURE CAPITAL FUND IN MINNESOTA FOCUSED ON RACE, PLACE AND GENDER, LED BY GENER8TOR: MSP EQUITY FUND.- GREW PARTNERSHIPS TO EXPAND AND BUILD VISIBILITY FOR THE MSP STARTUP GUIDE, A WEBSITE THAT HELPS FOUNDERS FILTER AMONG 500+ RESOURCES AND 400+ ORGANIZATIONS TO FIND THE RIGHT FIT FOR THEIR STARTUPS' NEEDS.- TRAINED 250+ PROSPECTIVE ANGEL INVESTORS THROUGH ANGEL FEST EVENTS AND CATALYST COHORTS; PART OF U.S. EDA AWARDED CAMPAIGN IN PARTNERSHIP WITH GROOVE CAPITAL.- HOSTED ROUNDTABLES TO EDUCATE AND BUILD COMMUNITY AMONG 40+ ENTREPRENEUR SUPPORT ORGANIZATIONS AND 40+ VENTURE CAPITAL FIRMS.MBOLDMBOLD IS A COALITION OF BIG COMPANIES, START-UPS, UNIVERSITIES AND NONPROFITS KEEPING US AT THE FOREFRONT OF INNOVATION IN FOOD AND AGRICULTURE. LAUNCHED IN 2020, MBOLD SEEKS TO MAKE OUR REGION A GLOBAL HUB FOR SOLVING THE MOST CRITICAL FOOD & AGRICULTURE CHALLENGES OF THE 21ST CENTURY, INCLUDING CLIMATE CHANGE. IN 2023, MBOLD:- ADVANCED SOIL HEALTH THROUGH A 45,000-ACRE CARBON CREDIT PROJECT AND EXPANDING OUR PILOT PROGRAM FOR THE COVER CROP "WINTER CAMELINA." - EMBARKED ON DEVELOPMENT OF MINNESOTA AS A LEADING HUB FOR INNOVATION IN PROTEIN SUSTAINABILITY.- ADDED NEW INTERNATIONAL DIMENSIONS TO OUR WORK BY CO-LEADING AN INTERNATIONAL ALTERNATIVE PROTEIN EVENT AND CO-HOSTING DELEGATIONS FROM THE NETHERLANDS AND FINLAND.- GATHERED ABOUT 100 INVESTORS AND PARTNERS FOR MBOLD LEADERSHIP SUMMIT. CONNEXTMSPCONNEXTMSP IS WORKING TO ENSURE THOUSANDS MORE YOUNG ADULTS OF COLOR FROM OUR REGION ARE HIRED INTO GREAT JOBS BY EMPLOYERS IN OUR REGION. CONNEXTMSP BECAME PART OF GREATER MSP IN 2020, AND PUBLICLY LAUNCHED IN 2021 WITH THE HELP OF MORE THAN 50 COALITION PARTNERS. IN 2023, CONNEXTMSP:- GREW CONNEXTMSP TALENT NETWORK PLATFORM TO MORE THAN 1,500 MEMBERS.- INCREASED JOB CREATION VIA PROFESSIONAL APPRENTICESHIPS TO MORE THAN 300 THROUGH A DOZEN MN APPRENTICE NETWORK COMPANIES.- CREATED NEW 'CAREER CIRCLE' OFFERING IN CONNEXTMSP PORTAL INCREASING CONNECTION BETWEEN EMPLOYERS & EARLY-CAREER TALENT.- TALENT PIPELINE ECOSYSTEM MAPPING PROJECT GAVE US NEW TANGIBLE DATA POINTS AND INSIGHTS ON YOUNG, BLACK TALENT IN MSP.- ENGAGED 60+ NETWORK PARTNERS AND COLLABORATED ON MORE THAN 25 EVENTS IN MSP INCREASING IMPACT FOR DIVERSE EARLY-CAREER JOB SEEKERS.REGIONAL AIR SERVICES PARTNERSHIP (RASP)THE MSP REGIONAL AIR SERVICES PARTNERSHIP (RASP) WAS LAUNCHED IN 2017 BY THE METROPOLITAN AIRPORTS COMMISSION (MAC) AND GREATER MSP. RASP DRAWS ON THE LEADERSHIP OF CORPORATE PARTNERS AND THE METROPOLITAN AIRPORTS COMMISSION TO EXPAND ACCESS TO DOMESTIC AND GLOBAL LOCATIONS FROM MSP INTERNATIONAL AIRPORT. IN 2023, RASP WAS ABLE TO SUPPORT MAC IN SECURING DIRECT LONG-HAUL SERVICE TO FRANKFURT THROUGH LUFTHANSA, A NEW CARRIER AT MSP, AND RESUMPTION OF SERVICE TO DUBLIN BY AER LINGUS; BOTH TO BEGIN IN 2024.ITASCA PROJECTIN 2022, GREATER MSP SUCCESSFULLY INTEGRATED THE ITASCA PROJECT, AN EMPLOYER-LED CIVIC ALLIANCE FOCUSED ON BUILDING A THRIVING ECONOMY AND EXPANDING PROSPERITY FOR ALL, ACCELERATING WORK ON LONG-TERM ISSUES. IN 2023, THE ITASCA PROJECT:- CONVENED APPROXIMATELY 100 LEADERS TO DISCUSS THE NEED FOR SCALABLE HOUSING INNOVATIONS.- ENABLED THE CONVENING OF APPROXIMATELY 85 LEADERS TO DISCUSS THE NEED FOR AN EMPLOYER-LED REGIONAL TALENT STRATEGY.- SUPPORTED THE ALLOCATION OF OVER $1B IN EARLY CHILDHOOD FUNDING IN STATE LEGISLATURE.- CONVENED CEOS OF 5 TOP MEDTECH AND HEALTHCARE ORGANIZATIONS TO CREATE STRATEGY THAT ENABLED MEDTECH3.0.- HIGHLIGHTED FOR WORK IN HOUSING AFFORDABILITY AND 2023 HOUSING INNOVATION REPORT IN 5+ NEWS SOURCES, INCLUDING BLOOMBERG FOR HOUSING'S ROLE IN MSP'S LOWER INFLATION.- MORE THAN DOUBLED OUR YALP/MYALP APPLICANTS, PARTICULARLY IN PRIVATE SECTOR THROUGH INDIVIDUAL OUTREACH.- COMPLETED FIRST YEAR WITH ITASCA ELC ENABLING CLEAR GOVERNANCE STRUCTURE.BUSINESS BRIDGEBUSINESS BRIDGE IS A COALITION OF LARGE CORPORATE BUYERS AND MINNESOTA SUPPLIERS WORKING TOGETHER TO MAXIMIZE LOCAL JOB GROWTH AND WEALTH CREATION, DRIVING INCLUSIVE ECONOMIC GROWTH IN THE MINNEAPOLIS-SAINT PAUL REGION. BUSINESS BRIDGE WAS FOUNDED BY A JOBS TASK FORCE OF THE ITASCA PROJECT WORKING WITH A GROUP OF CORPORATE PROCUREMENT EXECUTIVES. THE GREATER MSP PARTNERSHIP ADOPTED BUSINESS BRIDGE IN 2022 TO SCALE THE INITIATIVE BY EXPANDING THE COALITION. TOGETHER, WE ARE PURSUING NEW AMBITIOUS GOALS TO ADD CORPORATE PARTNERS AND TO INCREASE BOTH LOCAL SPENDING AND SPENDING WITH LOCAL DIVERSE SUPPLIERS, WITH A PARTICULAR FOCUS ON INCREASING CONTRACTS WITH BIPOC-OWNED BUSINESSES. IN 2023 BUSINESS BRIDGE:- CONDUCTED A MARKET ASSESSMENT TO DEFINE IMMEDIATELY ACTIONABLE STEPS FOR COALITION MEMBERS TO INCREASE CORPORATE CONTRACTS WITH LOCAL AND LOCAL-DIVERSE SUPPLIERS. OVER 200 BUSINESS REPRESENTATIVES PARTICIPATED IN SURVEYS, INTERVIEWS AND FOCUS GROUPS. - IDENTIFIED GOODS AND SERVICES WITH SIGNIFICANT DEMAND AND DEVELOPED COMMON CRITERIA USED BY LARGE CORPORATIONS TO ASSESS SUPPLIER CONTRACT READINESS. WE SHARED THIS CRITICAL MARKET INTELLIGENCE WITH SUPPLIERS AND ORGANIZATIONS OFFERING SUPPLIER BUSINESS CONSULTING.- HOSTED A SUPPLIER MATCHMAKING EVENT DESIGNED TO FACILITATE MEANINGFUL CONNECTIONS BETWEEN SUPPLIERS AND CORPORATE DECISION MAKERS. 2023 BREAKTHROUGHSTHE GREATER MSP PARTNERSHIP HAS WORKED TO SUPPORT AND ASSEMBLE COALITIONS TO USE THE SIGNIFICANT NEW FEDERAL FUNDING AVAILABLE TO IGNITE TRANSFORMATIONAL CHANGE. GREATER MSP CREATED AND IS LEADING THREE COALITIONS: MINNESOTA CHIPS COALITIONGREATER MSP CREATED THE MINNESOTA CHIPS COALITION TO MAKE MINNESOTA A NATIONAL LEADER IN THE GROWING DOMESTIC SEMICONDUCTOR AND MICROELECTRONICS INDUSTRIES. ONE OF THE TOP PRIORITIES FOR THE COALITION, WHICH INCLUDES 77 CROSS-SECTOR PARTNERS, IS MEETING THE WORKFORCE NEEDS THAT COME WITH BUILDING OUT DOMESTIC SEMICONDUCTOR SUPPLY CHAINS.TO THIS END, THE CHIPS COALITION DEVELOPED AN INNOVATIVE EMPLOYER-LED WORKFORCE PARTNERSHIP AND PLAN, CO-CREATED WITH THE GOVERNOR'S WORKFORCE DEVELOPMENT BOARD, EMPLOYERS, COLLEGES AND UNIVERSITIES, TRAINING PROVIDERS, AND COMMUNITY-BASED ORGANIZATIONS. RECOGNIZING THAT ACCESS TO CHILDCARE IS A KEY BARRIER FOR PEOPLE WORKING WITHIN THE 24-7 SHIFTS IN THIS INDUSTRY, THE CHIPS COALITION BROUGHT TOGETHER EMPLOYERS, NONPROFIT CHILDCARE INDUSTRY LEADERS, AND OTHER STAKEHOLDERS TO CREATE A PLAN TO MEET THE NEEDS OF WORKING FAMILIES. MINNESOTA SUSTAINABLE AVIATION FUEL (SAF) HUBIN 2023, GREATER MSP AND DELTA AIR LINES LAUNCHED THE MINNESOTA SUSTAINABLE AVIATION FUEL (SAF) HUB TO DRIVE THE TRANSITION TO LOW-CARBON COMMERCIAL JET FUEL. THE HUB WILL HELP DELTA REACH ITS GLOBAL GOAL OF REPLACING 10% OF PETROLEUM-BASED FUEL BY 2027 AND 50% BY 2035.GREATER MSP AND OTHER PARTNERS, INCLUDING BANK OF AMERICA, ECOLAB, XCEL ENERGY, AND THE METROPOLITAN AIRPORTS COMMISSION, HAVE BEEN WORKING TO DEVELOP THE HUB'S PLANS. IN THE NEAR TERM, PARTNERS WILL IMPORT SAF FROM OTHER STATES AND BLEND THEM WITH TRADITIONAL FUELS TO SERVE THE MSP AIRPORT. IN THE MEDIUM- AND LONG-TERM, THE HUB WILL SCALE UP MINNESOTA'S PRODUCTION OF SAF USING EXISTING ETHANOL PRODUCTION INFRASTRUCTURE AND EMERGING TECHNOLOGIES. THE MN SAF HUB AND ITS PARTNERS HAVE SUBMITTED SEVERAL PENDING FEDERAL FUNDING REQUESTS, INCLUDING DEPARTMENT OF TRANSPORTATION FAST-SAF GRANTS. OTHER FUNDING IS ALREADY IN PLACE: MINNESOTA PASSED A NEW TAX CREDIT IN 2023 TO INCENTIVIZE THE PRODUCTION AND USE OF SAF. THIS CREDIT STACKS ON A FEDERAL TAX CREDIT TO PROVIDE AN ADDITIONAL $1.50 TAX CREDIT PER GALLON OF SAF PRODUCED OR BLENDED IN MINNESOTA. MINNESOTA MEDTECH 3.0 MINNESOTA MEDTECH 3.0 (MMT3.0) IS A CROSS-SECTOR COALITION BUILT UPON ADVANCEMENTS IN MEDICAL TECHNOLOGY, INCLUDING ARTIFICIAL INTELLIGENCE, MACHINE LEARNING, AND DATA SCIENCE. THIS COALITION IS LED BY GREATER MSP AND INCLUDES MEDTRONIC, MAYO CLINIC, UNIVERSITY OF MINNESOTA, DOZENS OF HEALTH CARE PROVIDERS, INSURERS, TECHNOLOGY COMPANIES, INVESTMENT FIRMS, AND MANY OTHERS.MMT3.0 RECEIVED THE TECH HUBS DESIGNATION FROM THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION (EDA) IN 2023. THIS DESIGNATION SPARKED 39 COALITION PARTNERS TO COME TOGETHER IN LATE 2023 AND EARLY 2024 TO DEVELOP A $60.5 MILLION TECH HUBS APPLICATION TO EDA, SUBMITTED IN FEBRUARY, WHICH IS PENDING.THROUGH THE DESIGNATION AND APPLICATION PHASES, MMT3.0 ALSO CONTINUED TO PUSH FOR INCLUSIVE GROWTH. THE COALITION DEVELOPED AN EQUITY TEAM THAT SET UP AN OVERALL FRAMEWORK FOR THE COALITION AND DESIGNED AN APPROACH TO MEASUREMENT AND EVALUATION. AND BUILDING OFF THE MODEL DEVELOPED IN THE CHIPS COALITION, MMT3.0 INCLUDES AN EMPLOYER-LED WORKFORCE PARTNERSHIP AND PLAN. 5873525 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 44 0 1 27 1 0 0 0 0 0 0 0 0 0 0 0 0 X 33 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X SAMUEL MORANTZ 6512871365 370 WABASHA ST NORTH 1900 SAINT PAUL MN 55102 PETER FROSCH PRESIDENT & CEO 40.00 X X 445510 0 14133 TONYA ALLEN DIRECTOR 0.50 X 0 0 0 CHAIRMAN KEITH ANDERSON DIRECTOR (UNTIL 12/31/2023) 0.50 X 0 0 0 CHRISTOPHE BECK DIRECTOR 0.50 X 0 0 0 ANDY BESSETTE DIRECTOR (UNTIL 9/11/2023) 0.50 X 0 0 0 DOUG CARNIVAL OF COUNSEL 0.50 X 0 0 0 BRETT CARTER DIRECTOR (UNTIL 11/2/2023) 0.50 X 0 0 0 MAYOR MELVIN CARTER DIRECTOR 0.50 X 0 0 0 BERT COLIANNI DIRECTOR (UNTIL 7/10/2023) 0.50 X 0 0 0 JEFFREY ETTINGER DIRECTOR 0.50 X 0 0 0 COMMISSIONER IRENE FERNANDO DIRECTOR 0.50 X 0 0 0 MAYOR JACOB FREY DIRECTOR 0.50 X 0 0 0 JOAN GABEL DIRECTOR (UNTIL 4/28/2023) 0.50 X 0 0 0 CHRIS GALVIN DIRECTOR 0.50 X 0 0 0 DAN JOHNSON DIRECTOR 0.50 X 0 0 0 DR ERIC JOLLY DIRECTOR 0.50 X 0 0 0 MICHAEL JONES DIRECTOR (UNTIL 4/30/2023) 0.50 X 0 0 0 PHILIP KAUFMAN DIRECTOR (UNTIL 6/30/2023) 0.50 X 0 0 0 COMMISSIONER STAN KARWOSKI DIRECTOR 0.50 X 0 0 0 AMY LANGER DIRECTOR (UNTIL 4/12/2023) 0.50 X 0 0 0 AUDREY LUCAS DIRECTOR 0.50 X 0 0 0 MAYOR MIKE MAGUIRE DIRECTOR 0.50 X 0 0 0 MATT MARSH DIRECTOR 0.50 X 0 0 0 JOHN NAYLOR DIRECTOR (UNTIL 8/31/2023) 0.50 X 0 0 0 JON NUDI DIRECTOR 0.50 X 0 0 0 MICHAEL O'LEARY DIRECTOR (UNTIL 9/20/2023) 0.50 X 0 0 0 LAURA OBERST DIRECTOR 0.50 X 0 0 0 COMMISSIONER RAFAEL ORTEGA DIRECTOR 0.50 X 0 0 0 RT RYBAK DIRECTOR 0.50 X 0 0 0 DAVID SAGGAU DIRECTOR (UNTIL 4/12/2023) 0.50 X 0 0 0 SAHIL SANGHVI DIRECTOR 0.50 X 0 0 0 COMMISSIONER SCOTT SCHULTE DIRECTOR 0.50 X 0 0 0 TODD SENGER DIRECTOR (UNTIL 2/13/2023) 0.50 X 0 0 0 COMMISSIONER MIKE SLAVIK DIRECTOR 0.50 X 0 0 0 CHRISTINE SOVEREIGN DIRECTOR 0.50 X 0 0 0 JOHN STAUCH DIRECTOR 0.50 X 0 0 0 COMMISSIONER MATT UDERMANN DIRECTOR 0.50 X 0 0 0 COMMISSIONER JON ULRICH DIRECTOR (UNTIL 12/31/2023) 0.50 X 0 0 0 ROBERT VISCHER DIRECTOR 0.50 X 0 0 0 LAYSHA WARD DIRECTOR 0.50 X 0 0 0 BRADLEY WOOD DIRECTOR 0.50 X 0 0 0 TIMOTHY A WELSH CHAIRMAN 1.00 X X 0 0 0 RAVI NORMAN VICE CHAIR 0.50 X X 0 0 0 DENNIS DAHLEN TREASURER 0.50 X X 0 0 0 MATTHEW K LEWIS VICE PRESIDENT, STRATEGIC INITIATIVES 40.00 X 243140 0 15283 AMANDA TAYLOR VICE PRESIDENT, RESEARCH & INTELLIGENCE 40.00 X 237935 0 40299 MORRIS GOODWIN JR MANAGING DIRECTOR, FORGE NORTH 40.00 X 237168 0 30001 JENNIFER M LINDEMER DIRECTOR, ORGANIZATIONAL DEVELOPMENT 40.00 X 167515 0 38898 JOANNE BERKENKAMP MANAGING DIRECTOR, MBOLD 40.00 X 175818 0 19801 SAM B MORANTZ COMPTROLLER 40.00 X 158895 0 14061 IEESHA M COLLINS MANAGING DIRECTOR, CONNEXTMSP 40.00 X 197845 0 16520 KRISTIN GUILD DIRECTOR, BUSINESS BRIDGE 40.00 X 167628 0 7779 2031454 0 196775 14 0 1 0 COLLEEN EBINGER 4135 PILLSBURY AVE S MINNEAPOLIS MN 55409 CONSULTING/CONTRACTING FEES 166596 1 488631 7466731 7955362 53575 53575 8008937 0 0 53575 27000 27000 1263469 923251 195177 145041 2495594 1674989 819474 1131 89560 60995 27955 610 212462 145268 59960 7234 234123 167278 58548 8297 34415 1750 32665 78664 78664 51338 51338 194476 130766 63438 272 1725678 1725678 14529 10301 3948 280 157472 105223 51716 533 199972 148671 47898 3403 97369 68268 29101 263761 225366 38395 1280 907 348 25 103063 73073 28001 1989 23972 17003 6507 462 DUES AND SUBSCRIPTIONS 186247 170589 14619 1039 MISCELLANEOUS EXPENSE 136005 101123 33891 991 SPONSORSHIPS 44688 44688 7635137 5873525 1590305 171307 2167183 1282620 2542123 2866211 307410 1194333 994 688 139380 134656 1989311 1365939 134843 623372 4525 925 91036 295476 5387494 6398281 682562 1083786 174100 226100 143678 306928 1000340 1616814 X 3289701 3137783 1097453 1643684 4387154 4781467 5387494 6398281 373800 20513 0 X 0 1 X 1 0 X 6034977 6102687 6501903 6786205 7955362 33381134 6034977 6102687 6501903 6786205 7955362 33381134 4036815 29344319 98572 51561 243 10230 53575 214181 150256 63000 213256 33808571 0.86800 0.85950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 51338 0 0 51338 0 PART II-B, LINE 1: THE MINNESOTA BUSINESS COALITION FOR RACIAL EQUITY (MBCRE) CONTRACTS WITH FREDRIKSON FOR GOVERNMENT RELATIONS SUPPORT. EACH YEAR, MBCRE MEMBER COMPANIES ALIGN ON A BLACK-CENTERED POLICY AGENDA THAT SUPPORTS ITS VISION TO BUILD A MORE JUST, PROSPEROUS STATE WITH AND FOR BLACK MINNESOTANS. TEAM MEMBERS FROM FREDRIKSON IDENTIFY LEGISLATORS FOR MBCRE TO CONNECT WITH AND OPPORTUNITIES TO ADVANCE POLICY PRIORITIES WITH LETTERS OF SUPPORT OR TESTIMONY IN COMMITTEES. 1058723 608465 450258 930588 757474 173114 623372 CAPITAL LEASE OBLIGATION 30856 OPERATING LEASE LIABILITY 276072 306928 X 8029450 20513 20513 8008937 0 8008937 7635137 0 7635137 0 7635137 PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT GREATER MSP IS A NONPROFIT MINNESOTA CORPORATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS NOT A PRIVATE FOUNDATION AS DEFINED BY SECTION 509(A). GREATER MSP'S ACCOUNTING POLICY PROVIDES THAT A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. GREATER MSP HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSE OR BENEFIT. GENERALLY, GREATER MSP IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE AND LOCAL TAX AUTHORITIES FOR THE YEARS BEFORE 2020. 1 GREAT NORTHERN WINTER FESTIVAL 206 NORTH FIRST STREET MINNEAPOLIS MN 55401 815138735 501(C)(3) 25000 0 SPONSORSHIP OF THE GREAT NORTHERN 2023 FESTIVAL 1 0 PART I, LINE 2: GREATER MSP SPONSORS VARIOUS ORGANIZATIONS AND EVENTS EACH YEAR. GREATER MSP'S SPONSORSHIP PAYMENTS MAY BE USED BY THE ORGANIZATIONS AT THEIR DISCRETION. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 PETER FROSCH PRESIDENT & CEO 360323 0 84700 0 487 0 12265 0 1868 0 459643 0 0 0 AMANDA TAYLOR VICE PRESIDENT, RESEARCH & INTELLIGE 197448 0 40000 0 487 0 11440 0 28859 0 278234 0 0 0 MORRIS GOODWIN JR MANAGING DIRECTOR, FORGE NORTH 228408 0 8760 0 0 0 0 0 30001 0 267169 0 0 0 MATTHEW K LEWIS VICE PRESIDENT, STRATEGIC INITIATIVE 202273 0 40380 0 487 0 12283 0 3000 0 258423 0 0 0 IEESHA M COLLINS MANAGING DIRECTOR, CONNEXTMSP 180295 0 17550 0 0 0 3887 0 12633 0 214365 0 0 0 JENNIFER M LINDEMER DIRECTOR, ORGANIZATIONAL DEVELOPMENT 152135 0 15380 0 0 0 8747 0 30151 0 206413 0 0 0 JOANNE BERKENKAMP MANAGING DIRECTOR, MBOLD 160118 0 15700 0 0 0 6031 0 13770 0 195619 0 0 0 KRISTIN GUILD DIRECTOR, BUSINESS BRIDGE 155583 0 12045 0 0 0 7779 0 0 0 175407 0 0 0 SAM B MORANTZ COMPTROLLER 144895 0 14000 0 0 0 7702 0 6359 0 172956 0 0 0 PART I, LINE 1A GREATER MSP PAID FOR THE ANNUAL DUES OF THE CEO AND THE ORGANIZATION VICE PRESIDENTS TO THE MINNEAPOLIS CLUB (A BUSINESS CLUB). THIS BUSINESS CLUB HAS BEEN IDENTIFIED BY THE BOARD AS HAVING MEMBERS YIELDING TREMENDOUS LOCAL, NATIONAL AND GLOBAL IMPACT. THE PRIMARY PURPOSE OF THIS BUSINESS CLUB MEMBERSHIP IS TO CONDUCT BOARD AND COMMITTEE MEETING AND OTHER BUSINESS MEETINGS TO ADVANCE THE AGENDA OF GREATER MSP. ALL EXPENSES ARE SUBSTANTIATED AND EMPLOYEES REIMBURSE GREATER MSP FOR ALL NON-BUSINESS RELATED EXPENSES. THE CEO'S 2023 COMPENSATION INCLUDED A GROSS UP FOR THE ANNUAL PREMIUM FOR SUPPLEMENTAL LONG TERM DISABILITY AND SUPPLEMENTAL LIFE INSURANCE PER THE CEO'S EMPLOYMENT CONTRACT. THE ORGANIZATION'S VICE PRESIDENTS' 2023 COMPENSATION INCLUDED A GROSS UP FOR THE ANNUAL PREMIUM FOR SUPPLEMENTAL LIFE INSURANCE. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PREPARES THE FORM 990 WITH THE ASSISTANCE OF ITS INDEPENDENT ACCOUNTING FIRM. THE FINANCE AND AUDIT COMMITTEE OF THE BOARD REVIEWS AND APPROVES THE FORM 990. THE FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS FOR THE THEIR REVIEW AND COMMENTS PRIOR TO ITS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE PURPOSE OF THIS CONFLICT OF INTEREST POLICY (THE "POLICY") IS TO PROTECT THE INTERESTS OF THE MINNEAPOLIS ST. PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP (THE "CORPORATION") WHEN IT IS CONTEMPLATING ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN OFFICER OR DIRECTOR OF THE CORPORATION OR MIGHT RESULT IN A POSSIBLE EXCESS BENEFIT TRANSACTION. ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST IS AN INTERESTED PERSON. A PERSON HAS A FINANCIAL INTEREST IF THE PERSON HAS, DIRECTLY OR INDIRECTLY, THROUGH BUSINESS, INVESTMENT, OR FAMILY: AN OWNERSHIP OR INVESTMENT INTEREST IN ANY ENTITY WITH WHICH THE CORPORATION HAS A TRANSACTION OR ARRANGEMENT, A COMPENSATION ARRANGEMENT WITH THE CORPORATION OR WITH ANY ENTITY OR INDIVIDUAL WITH WHICH THE CORPORATION HAS A TRANSACTION OR ARRANGEMENT, OR A POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN, OR COMPENSATION ARRANGEMENT WITH, ANY ENTITY OR INDIVIDUAL WITH WHICH THE CORPORATION IS NEGOTIATING A TRANSACTION OR ARRANGEMENT. COMPENSATION INCLUDES DIRECT AND INDIRECT REMUNERATION AS WELL AS GIFTS OR FAVORS THAT ARE NOT INSUBSTANTIAL. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE CORPORATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND THE BOARD OF DIRECTORS. THE COMMITTEE USES EXTERNAL MARKET SURVEY DATA AND COMPARISON INFORMATION TO DETERMINE COMPENSATION FOR THE CEO. GREATER MSP USES EXTERNAL SURVEY DATA AND COMPENSATION INFORMATION TO DETERMINE COMPENSATION FOR ALL OTHER EMPLOYEES OF THE ORGANIZATION. THE DECISION IS FORMALIZED AND CONTEMPORANEOUSLY DOCUMENTED IN AN ANNUAL SALARY LETTER, SIGNED BY THE CHAIR OF THE GREATER MSP BOARD OF DIRECTORS. THIS PROCESS LAST TOOK PLACE FEBRUARY 28, 2023. FORM 990, PART VI, SECTION C, LINE 19 IN 2023 GREATER MSP MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.