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Biosciences Zones Pared Back by Minnesota

ST. PAUL-St. Paul, Minneapolis and Rochester asked for more than 3,200 acres, and got 1,500 acres from the state--or about 500 acres each-as expansion zones for biosciences growth.

By Jim McCartney | Updated on January 04, 2004

ST. PAUL-About 1,500 acres in St. Paul, Minneapolis and Rochester have been designated as growth and expansion zones for Minnesota’s biotechnology and health sciences industries, Gov. Tim Pawlenty said last week.

The three cities had asked for more than 3,200 acres, but the state Department of Employment and Economic Development pared away land that was not within “easy access” of the University of Minnesota in the Twin Cities or the Mayo Clinic in Rochester. Each city will get about 500 acres.

The goal of the new bioscience zone program is to cluster existing and start-up bioscience companies and help them gain access to University of Minnesota and Mayo researchers and to provide tax breaks to help them lower their costs and fuel growth. The initiative includes exemptions from the corporate franchise tax, sales tax on business purchases, property taxes, employment tax credits for high-paying jobs, and research and development tax credits.

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