To the editor of the White Bear Press:
2013 was a good year for Minnesota’s economy.
Our state regained all of the jobs lost during the Great Recession, our unemployment rate fell to 4.6 percent (one of the lowest in the nation), and state lawmakers repaid all the money borrowed from our schools by previous legislatures. With a projected state budget surplus of over $800 million, Minnesota’s finances are on the strongest footing we’ve seen in years.
In order to put more people back to work and help businesses thrive, we need to build on that momentum in 2014. That’s why I’m excited to announce new financial incentives available to businesses looking to expand and hire more employees.
Businesses can now apply to receive up to $1 million through the Job Creation Fund, a new pay-for-performance business development initiative that will help create an estimated 5,000 new jobs statewide and attract another $450 million of private investment in Minnesota’s economy. This program is a key component of the comprehensive jobs bill I supported during the 2013 Legislative Session.
Financial assistance is available for businesses that create at least 10 full-time jobs and invest at least $500,000 in their own developments. Employers can learn more about the Job Creation Fund by visiting the Department of Employment and Economic Development’s website at www.mn.gov/deed.
Minnesota made important progress in 2013, but there is more work to do in the year ahead. Initiatives like the Job Creation Fund will make sure our economy stays on the right track in 2014.
Sincerely,
Peter Fischer
State Representative, District 43A