What is the Minnesota Jobz program?
Job Opportunity Building Zones(JOBZ) is a new and exciting tool to stimulate business activity in Greater Minnesota. Eligible businesses will operate in an environment nearly free of state and local taxes. These tax incentives will help new and expanding companies lower their overall costs and facilitate their growth.
Who is eligible?
In recent years, Minnesota has worked to substantially reduce business taxes, saving businesses over $1 billion annually. To qualify for the tax exemptions, a business must start-up in the zone, relocate from outside the zone or expand. Companies relocating from another Minnesota site qualify by increasing employment by 20 percent within the first year or making capital investment of at least 10 percent of gross revenues. In addition, businesses must also meet local business assistance goals to qualify for tax exemptions. Exemptions are available for up to 12 years beginning in January 2004.
How much can I save?
Use this tax savings calculator to see how much you could save by locating your business in Hendricks, MN.
Where do I get information about the JOBZ program for Hendricks, MN?
Our contacts page contains the contact information for all local economic development groups.
