MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
Minnesota Department of Employment and Economic Development (DEED) 180 East 5th Street, Suite 1200 St. Paul, MN 5510-1678
651-259-7114 800-657-3858 Minnesota Job Creation Fund 651-259-7483 800-657-3858
The Minnesota Job Creation Fund (JCF) program provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. Companies deemed eligible to participate may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements. For extremely large projects, companies may be eligible to receive up to $2 million. The size of an award depends on variety of factors including (but not limited to) Minnesota’s competitiveness, local economic conditions, job creation, wage levels and capital expenditures. Expenditures and hiring related to the JCF assistance may not occur until funding has been formally approved. Eligibility The program is available to businesses engaged in select industries including manufacturing, warehousing, distribution and technology-related industries, among others. Local government must support an application submitted by the expanding business. To be eligible, the business must meet requirements including: • Invest at least $500,000 in real property improvements within one (1) year of entering the program • Create at least 10 full-time jobs that meet wage and compensation requirements within two (2) years of entering the program • Have other location options outside of Minnesota • Operate in an eligible industry • Firms that are located in Greater Minnesota or if 51 percent of the business is cumulatively owned by minorities, veterans, women or persons with a disability may qualify for the program by investing at least $250,000 and creating at least 5 full-time jobs. Funding is provided annually once minimum thresholds are met. Actual dollars provided depend on the number jobs created and eligible capital investments.
Minnesota Investment Fund 800-657-3858
This Minnesota Investment Fund (MIF) provides financing to help add new workers and retain high-quality jobs. The program’s focus on industrial, manufacturing and technology-related industries and aims to increase the local and state tax base and improve economic vitality.
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