Program helps businesses in Greater Minnesota grow
The Department of Employment and Economic Development (DEED) is encouraging businesses to take advantage of the Greater Minnesota Job Expansion Program, which the Greater Minnesota Partnership helped to develop and pass in the 2013 legislative session. Under this program, businesses in Greater Minnesota will receive sales tax refunds on all purchases made during a seven-year period.
To qualify for the refund, a participating business must have operated in Greater Minnesota for at least one year and must commit to expanding its workforce at a single facility. The business must increase full-time employment at the facility by two employees or 10 percent of current employment, whichever is greater, within three years. DEED will determine the size of the sales tax refund that each business will receive (up to $2 million annually and $10 million over seven years), based in part on employment and capital investments.
Click here for more information about the Greater Minnesota Job Expansion Program, and please share this information with the business community in your city!