Minnesota SF4851 appropriates $50 million for a nanoparticle iron nitride permanent magnet manufacturing facility.

Minnesota SF4851 allocates $50 million from the Minnesota forward fund account for the fiscal year 2027. This funding is designated for the commissioner of employment and economic development to match existing federal funding from the Consolidated Appropriations Act of 2026. The appropriated funds will be used to construct and operate a nanoparticle iron nitride permanent magnet manufacturing facility. The commissioner may use up to two percent of the appropriation for administrative purposes.

Minnesota SF4851 appropriates $50 million for a nanoparticle iron nitride permanent magnet manufacturing facility.

Minnesota SF4851 allocates $50 million from the Minnesota forward fund account for the fiscal year 2027. This funding is designated for the commissioner of employment and economic development to match existing federal funding from the Consolidated Appropriations Act of 2026. The appropriated funds will be used to construct and operate a nanoparticle iron nitride permanent magnet manufacturing facility. The commissioner may use up to two percent of the appropriation for administrative purposes.