State Financing

DEED Has Minnesota Funding Opportunities

The Minnesota Department of Employment and Economic Development (DEED) has a number of programs to help finance businesses locating locating within the GPS Region. These funding programs are designed to address a variety of financial challenges. The following provide a general overview of the programs. The GPS staff will work with you to obtain the appropriate funding from DEED.

Minnesota Angel Tax Credit

Minnesota's Angel Tax Credit provides incentives to investors or investment funds that put money into startup and emerging companies focused on high technology or new proprietary technology. The Angel Tax Credit benefits businesses, investors, workers and the state's economy all benefit from the Angel Tax Credit. Here's how:

  • Businesses get the capital they need to grow
  • Investors can manage the risk associated with investing in new businesses or technology
  • Minnesota workers and the state's economy benefit because the tax credit kick-starts emerging businesses and creates jobs.

Job Creation Fund (JCF)

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.

Minnesota Investment Fund (MIF)

The Minnesota Investment Fund provides grants to cities who in turn provide low interest loans to firms to help add new workers and retain high-quality jobs on a statewide basis.

The focus is on industrial, manufacturing, and technology-related industries to increase the local and state tax base and improve economic vitality statewide.

Minnesota Job Skills Partnership Program

Through the Minnesota Jobs Skills Partnership program DEED works strategically with businesses and educational institutions to train or retrain workers, expand work opportunities, and keep high-quality jobs in the state.

The Job Skills training grants are used to offset training-related expenses incurred by business, industry and educational institutions necessary to meet current and future workforce needs.

The City of Isanti team, especially Mayor Wimmer and ED Director Sean Sullivan, were tremendous to work with. Collaborating with the city was pivotal in securing meaningful business incentives from the Minnesota Investment Fund (MIF), Job Creation Fund (JCF) as well as other programs. These results made our move from Fargo, ND to Isanti possible. 

Mario J. Nozzarella, Executive Vice President
SnoBear USA, Inc.