Minnesota Job Creation Fund

Minnesota Job Creation Fund is sponsored by Minnesota Dept. of Employment & Economic Development. Provides up to $1 million after specified job creation and capital investment goals are achieved.

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DEED Business Financing Programs Minnesota Job Creation Fund Minnesota Job Creation Fund The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. Companies deemed eligible to participate may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements.

In some cases, companies may receive awards of up to $2 million. This award-winning program has been recognized for its innovation by the Economic Development Association of Minnesota. Contact Tom Washa at 651-259-7483 or 1-800-657-3858, or contact a DEED Business Development Manager in your area to learn about the Minnesota Job Creation Fund and other DEED programs that might be of interest to you.

Eligibility Apply FAQs Funding Awards Job Creation Fund Eligibility The program is available to businesses engaged in manufacturing, warehousing, distribution, technology-related industries, and other eligible activities. Companies must work with the local government (city, county or township) where a project is located to apply to DEED to receive designation as a Job Creation Fund business.

To be designated as a Job Creation Fund business, a business must, at minimum: Be engaged in an eligible business activity Obtain local government support for their project via council resolution Invest at least $500,000 ($250,000 for Targeted Populations*) in real property improvements within one year of becoming a designated Job Creation Fund business Create at least 10 (5 for Targeted Populations*) new permanent full-time equivalent jobs within two years of becoming a Job Creation Fund business while maintaining existing employment numbers Pay at least $17.

01 in wages and benefits in 2026, adjusted annually based on 110% of federal poverty guidelines. The level will change again on Jan. 1, 2027.

Have other location options outside of Minnesota Cause no undue harm to Minnesota business competitors Certify that the project would not occur without Job Creation Fund assistance Projects that begin prior to becoming designated by DEED are not eligible for the Job Creation Fund. Prevailing Wage Requirements Projects that receive $200,000 or more in Job Creation Fund assistance are subject to prevailing wage requirements.

Learn more regarding Prevailing Wage Requirements by reviewing the Prevailing Wage Guide or visiting the Department of Labor and Industry website regarding Prevailing Wage Requirements. Companies that meet eligibility requirements must sign a business subsidy agreement with DEED to meet job retention, creation, wage, and capital investment requirements.

The following benefits may be available once a business meets the conditions of its agreement and provides proof of performance: $1000 ($2000 for Targeted Populations*) per year per job created for jobs paying at least $35,532 in cash wages $2000 ($3000 for Targeted Populations*) per year per job created for jobs paying at least $47,824 in cash wages $3000 ($4000 for Targeted Populations*) per year per job created for jobs paying at least $61,487 in cash wages $4000 ($5000 for Targeted Populations*) per year per job created for jobs paying at least $75,151 in cash wages Up to a 5% rebate for real property improvements for businesses located in the Twin Cities Metro Up to a 7.

5% rebate for real property improvements for business located in Greater Minnesota *A targeted population is defined as if the business is located in Greater Minnesota or if 51% of the business is cumulatively owned by minorities, veterans, women or persons with a disability.

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