Search
 

JOBZ Produces $100M in Development

ST. PAUL-The 60 projects represent nearly $100 million in capital investments, according to state officials. Another 130 projects are underway to take advantage of tax free zones created by the state.

By Jim McCartney | Updated on August 24, 2004

ST. PAUL-There are some 60 development projects now underway and more than 130 other projects are at some stage of the review process the first seven months of the state of Minnesota’s Job Opportunity Building Zone. Since January, a diverse array of start-up companies and expanding or relocating businesses have signed agreements creating 60 development projects, promising to create more than 1,000 jobs and make close to $100 million in new capital investments in 39 Minnesota communities.

“The JOB Zones have exceeded our expectations,” says Minnesota Gov. Tim Pawlenty. Companies that qualify for the tax relief offered by the JOBZ program are required to sign a business subsidy agreement in which they pledge to create new jobs and make new investments in their communities. These job creation and capital investment numbers represent the minimum threshold that the companies must meet in order to qualify for JOBZ benefits.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.