Minnesota Administrative Rules
Agency 139 - Employment and Economic Development Department
Chapter 4301 - JOB CREATION FUND
Part 4301.0600 - BUSINESS SUBSIDY PROVISIONS
Universal Citation: MN Rules 4301.0600
Current through Register Vol. 49, No. 13, September 23, 2024
Subpart 1. Requirements.
All projects are subject to the business subsidy requirements under Minnesota Statutes, section 116J.994.
Subp. 2. Business subsidy agreement.
A designated business must execute a business subsidy agreement between the commissioner and the business before benefits may be provided. The agreement may require higher job creation, investment, or other goals to be achieved before benefits are provided. The following information, in addition to other requirements in Minnesota Statutes, section 116J.994, must be specified in the agreement:
A.
the number of full-time jobs existing at the job creation fund designated
location, if applicable;
B.
estimated number of full-time jobs to be created and time frame for full-time
job creation;
C. wages to be paid
for each full-time job to be created, which on an annualized basis must be at
least equal to 110 percent of the federal poverty level for a family of
four;
D. estimated total capital
investment to be made during the duration of the agreement;
E. expected financial value of any Minnesota
job creation fund benefits;
F.
duration of the designation; and
G.
when benefits will be provided.
Statutory Authority: MS s 116J.8748
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