UPDATE: The Star Tribune has a continued run-down of the latest known info:

Nine people were confirmed dead, 60 were taken to hospitals and 20 people were still missing late Wednesday night. Authorities said they expected the death toll to rise.

Between 50 and 60 vehicles were on the bridge when it went down shortly after 6 p.m., authorities said. Legions of rescue workers and volunteers swarmed to the scene and spent hours sifting through the wreckage in a frantic search for survivors.

“This is a catastrophe of historic proportions for Minnesota,” Gov. Tim Pawlenty said.

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UPDATE: Fox reports 9 people are confirmed having died.

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UPDATE: Fox News reports that 2 of the students that were on the bus “are in critical”. WCCO reports:

Minneapolis Fire Chief Jim Clack said the death toll could rise. He said officials could see at least 50 vehicles in the water.

“We think there are several more vehicles in the river we can’t see yet,” he said, adding that the likelihood of finding survivors was slim.

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UPDATE: Rescue effort is now a recovery effort.
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UPDATE: The death toll is expected to climb over night. Rescuers are still searching the water for signs of life in the water. I will continue to provide live coverage as long as possible.

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UPDATE: Memorial Blood Centers have been closed for the evening, but will reopen at 9 am tomorrow. The American Red Cross’ local chapter is accepting donations to help victims of the collapse. Lt. Gov. Carol Molnau is currently in China, but will be returning to Minnesota ASAP.

Local fire rescue reports bringing over 60 people to local area hospitals, with 7 confirmed dead, so far. Earlier reports indicated one of the construction workers is unaccounted for.

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This is bound to be a long, tragic, night. I will continue to liveblog as long as I can. Further updates will be located on this thread.