Gov. Tim Walz today signed a new law funding the Minnesota Climate Innovation Finance Authority to provide financing and leverage private investment for clean energy, building retrofits, and other projects around the state. The law includes vital standards to ensure the jobs created by this “green bank” will be good-paying, safe, union jobs, such as preference for projects that utilize Project Labor Agreements, which are collective bargaining agreements between building trade unions and contractors. Projects that use domestic manufacturing and that employ local workers are also given preference. Finally, the law includes a provision that ensures any projects above $100,000 are required to pay prevailing wage rates to all contractors and subcontractors.
Following the signing of the law, the BlueGreen Alliance released a statement from Minnesota Policy Organizer Abby Hornberger:
“We’re incredibly excited that this new law will fill funding gaps in our state’s clean economy and create good-paying, union jobs around the state and will enable us to apply for federal dollars to reduce greenhouse gasses. The labor provisions in here will help ensure local workers and communities get the biggest benefit from the investments this green bank will make.
“We thank Rep. Emma Greenman and Sen. Tou Xiong for their leadership in getting the bill to the governor’s desk and Gov. Walz for signing this pro-climate and pro-worker law.”