Growth Acceleration Program
The Growth Acceleration Program (GAP) is a direct state investment program aimed at helping manufacturing companies of 250 or fewer full-time employees to access business improvement services.
Since its inception in 2008, GAP has fueled 371 Minnesota manufacturing companies to invest in their respective organizations. As a result, these manufacturers have:
- Created and retained 5,299 jobs in Minnesota.
- Boosted company sales by $556 million.
- Saved these companies $360 million in business costs.
- On average, generated a $30-to-$1 return-on-investment
Eligibility of Applicants
To be eligible for GAP funding, a firm must:
- Be located in Minnesota;
- Be a manufacturing firm or a firm with manufacturing-related functions;
- Operate as an independent profit center;
- Employ 250 or fewer full-time equivalent employees;
- Submit an application including an overall company plan for improvement, with prioritized components and anticipated economic benefits;
- Demonstrate their need for a GAP investment in order to adopt the highest priority improvements.
Types of Projects
All funds awarded under GAP must be used to assist an eligible company with business services and products that will enhance the operations of the company. These business services must come directly through Enterprise Minnesota.
Priority will be assigned to projects whose return in economic benefits is most substantial and clear, projects whose outcomes are best accelerated through Enterprise Minnesota resources, and projects with companies not typically able to leverage external assistance.
GAP funds may not be used for financing, overhead costs, construction, renovation, equipment purchase, or computer hardware.
GAP funding is intended to help an eligible business buy down the cost of business services provided through Enterprise Minnesota. Depending on the size of the manufacturing company, they can get up to a 50 percent rebate for services provided to them.
The remaining match must be provided by the company in the form of cash. Third party contributions in lieu of company cash cannot be used to offset the company’s required cash amount. GAP funds are provided as reimbursement.Each invoice submitted to the eligible company must be paid in full in order to process the State’s match amount.
The maximum amount of GAP funding awarded to an eligible company in any calendar year is $50,000. A company may request GAP funding for multiple projects, as long as no one project exceeds $25,000.
Firms interested in GAP must fill out and submit to Enterprise Minnesota a complete application requesting funding. This application must include documentation of the company’s overall plan for technology and business improvement, a prioritized list of the company’s improvement needs, and the anticipated economic benefits. The application must document the company’s financial need for GAP funding in order to carry out the highest priority components scoped in a completed, signed Service Agreement.
Review and Approval
Upon receipt of an application, and verification of eligibility, Enterprise Minnesota will determine funding priority. Funding approval will be confirmed via email.