| State: |
MN |
| Incentive Type: |
Income/Franchise Tax Incentives and Credits |
| Incentive Title: |
Jobs Credits |
| Description: |
JOB OPPORTUNITY BUILDING ZONES(JOBZ): An economic development program to entice businesses to locate and expand in rural Minnesota through state and local tax exemptions. Agreement lasts until the program expires on 12-31-2015. |
| Eligibility Requirements: |
Business must be located within a JOBZ zone and has entered into a Business Subsidy Agreement with the appropriate local government. An approved project is eligible for the following tax incentives: 1)corporate franchise tax exemption; 2) income tax exemption for operators or investors; 3) sales tax exemption on goods and services used in the Zone; 4)property tax exemption on commercial and industrial improvements but not on land; 5)wind energy production tax exemption and 6) employment tax credit for high paying jobs. Retail development is not eligible. Employees must be compensated at least 110% of the federal poverty level. |
| Geographic Restrictions: |
Statewide in designated zones |
| Granting Authority: |
Dept. of Employment and Economic Development |
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