Minnesota Job Creation Fund
Minnesota Job Creation Fund supports new and expanding businesses with job-related awards and facility improvement rebates to spur investment and create or retain permanent jobs in Minnesota.
Funder: Minnesota Department of Employment and Economic Development
Due Dates: Rolling (applications accepted year-round)
Funding Amounts: Up to $1 million for most projects; up to $2 million for qualifying larger projects; benefits for up to 5 or 7 years by location
Summary: Financial incentives support Minnesota business projects that create or retain jobs and invest in facilities.
Key Information: Businesses must apply through their project’s local government and receive DEED designation before starting the project.
Description
The Minnesota Department of Employment and Economic Development (DEED) runs the Job Creation Fund for new and expanding businesses in Minnesota. It supports projects involving permanent jobs and capital investment, including construction, facility renovation, and other real property improvements. Eligible businesses include those in manufacturing, warehousing, distribution, and certain technology-related and other activities.
The fund provides job-related awards and rebates for eligible real property improvements. DEED sets employment, wage, and investment goals in a business subsidy agreement; benefits are paid after the business documents that it has met the agreement’s conditions. The program is intended to help projects proceed when its assistance is needed and to connect business investment with employment gains in Minnesota.
