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Minn. Subsidy Program to Lure New Jobs Launches

Updated: 01/10/2014 6:20 PM
Created: 01/10/2014 1:51 PM KSTP.com
By: Scott Theisen

Minnesota economic development officials are inviting businesses to apply for tax rebates tied to new hiring and capital investment.
    
Gov. Mark Dayton and his business recruitment adviser provided details Friday for a Minnesota Job Creation Fund that launched last week. Companies can qualify for $1,000 to $3,000 per new hire for up to seven years out of the $24 million fund.
    
It is the latest in a series of subsidy programs lawmakers created or enhanced to encourage hiring.
    
Homegrown or relocated businesses must prove they've added at least 10 jobs and invested $500,000 in developments to be eligible. The maximum award is $1 million.
    
Rebate size also depends on wages. Jobs with a $25,000 salary are worth $1,000. Those paying above $45,000 can fetch a company $3,000.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Gov. Mark Dayton and DEED Commissioner Katie Clark Sieben announced the launch of a new Minnesota Job Creation Fund at the state Capitol Friday. The initiative aims to create 5,000 new jobs and an estimated $450 million in private investment.
Photo: KSTP/file

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