Greater Minnesota Corporation
Function: The goal of the corporation is to stimulate the creation of new products and generate new markets for Minnesota products, so that business opportunities will grow and more jobs will become available.
Calling it "the most significant legislation" that he has seen in his six years as governor, Governor Rudy Perpich signed into law in June, 1987, a bill that would spend $38 million to further economic development throughout the state. The heart of the legislation is the formation of the Greater Minnesota Corp., a public corporation which will use state money to promote research and product development in the state.
In July of 1987 when Terry Montgomery was chosen by Perpich to launch the Greater Minnesota Corporation, he said the law estaablishing the GMC is patterned after a research plan in Pennsylvania, which is starting to bring in jobs after five years.
The Greater Minnesota Corporation is renamed Minnesota Technology, Inc. as of 1991 Minn. Laws Chap. 322.
As of 1987, the corporation is governed by a board of 11 directors. The term of a director is six years.
President: Terry Montgomery, July 1987-December 11, 1989; Jacques Koppel, June 25, 1990 -
State Register: "The corporation is not under the Open Appointments Act as of October 1989." Succeeded by Minnesota Technology, Inc.
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