State Grant Program to Reward Job Creation
ST. PAUL (AP) – Minnesota lawmakers are pushing a new grant program that would give government rebates and bonuses to companies that upgrade facilities and add new jobs.
The proposed $18.5 million Minnesota Job Creation Fund is a feature of an economic development package set for consideration Thursday by a House budget committee.
The program includes awards of up to $2,000,000 to eligible companies engaged in the manufacturing, warehousing, distribution, information technology, finance and insurance industries. The companies have to commit to spending a minimum amount on construction or capital projects and add a certain number of employees to their payroll each year.
The grants would depend on the size of the expansion, number of new employees and worker pay.
Positions paying at least $45,000 could fetch companies awards of $3,000 per worker.