Four Minnesota Businesses Invests A Total Of $12.8 Million In Expansion Projects
The firms will add about 16 jobs, with assistance from the Greater Minnesota Job Expansion Program, a new initiative that was launched this fall by the Minnesota Department of Employment and Economic Development. In exchange, the businesses will receive state sales tax refunds totaling nearly $550,000. DEED certifies businesses to participate in the program and will monitor them to ensure that they achieve hiring and wage commitments.
PurNet, a medical supply material management company, plans a $1.85 million expansion in Worthington, Minnesota. PurNet was awarded a state sales tax refund of $100,000, which it will receive over the next seven years.
Step Saver Inc., a manufacturer of salt products and mobile application delivery equipment, is planning a $515,000 expansion in Morton, Minnesota. Step Saver Inc. was awarded a $50,000 state tax refund, which it will receive over the next seven years. The company will add two full-time jobs.
In Olivia, Minnesota, Monsanto, a provider of agricultural products, plans a $4.6 million expansion of its manufacturing center and will add five full-time jobs. The company was awarded a state tax refund of $150,000, which it will receive over the next seven years. Monsanto will also invest $5.8 million to expand its plant in Glyndon, Minnesota. The company was awarded a state tax refund of $250,000, which it will receive over the next seven years.
“Small businesses employ the majority of the Minnesota workforce and are vital to growing our economy,” said DEED Commissioner Katie Clark Sieben. “This new program is encouraging job growth and contributing to the economic health of our communities in Greater Minnesota.”
To qualify for the refund, a business must have operated in Greater Minnesota for at least one year and must commit to expanding its workforce at a single facility. The business must increase full-time employment at the facility by two employees or 10 percent of current employment, whichever is greater, within three years.
Under the Greater Minnesota Job Expansion Program, participating businesses outside the seven-county Twin Cities area can receive state sales tax refunds on all purchases made during a seven-year period. Companies have three years to meet their employment goals.
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