Minnesota Job Creation Fund
Minnesota recently launched their Job Creation Fund, providing $1,000 to $3,000 per new job and 5% to 7.5% rebates for capital investment. Businesses wishing to apply must have support from the local government, and must create a minimum of 10 new full-time permanent jobs within two years and make at least $500,000 in real property improvements within one year of designation as an eligible business. The Minnesota Department of Employment and Economic Development evaluates several factors to determine eligibility and amount of the reward, including return on investment to the state, contribution by the local government, and the business’s performance. If your Minnesota business is expanding, consult Equifax Workforce Solutions to assess eligibility and ensure your organization is maximizing potential tax credits and incentives.