Minnesota HF4683 appropriates $50,000,000 for a nanoparticle iron nitride permanent magnet manufacturing facility.

Minnesota HF4683 allocates $50,000,000 for the construction and operation of a nanoparticle iron nitride permanent magnet manufacturing facility. This funding matches federal appropriations and is exempt from certain state financial requirements. The commissioner of employment and economic development can use up to 2% of the funds for administrative purposes. The appropriation is available until June 30, 2030, with any unspent funds reverting to the general fund.

Minnesota HF4683 appropriates $50,000,000 for a nanoparticle iron nitride permanent magnet manufacturing facility.

Minnesota HF4683 allocates $50,000,000 for the construction and operation of a nanoparticle iron nitride permanent magnet manufacturing facility. This funding matches federal appropriations and is exempt from certain state financial requirements. The commissioner of employment and economic development can use up to 2% of the funds for administrative purposes. The appropriation is available until June 30, 2030, with any unspent funds reverting to the general fund.