Minnesota Job Creation Fund
Minnesota’s economic development agency has withdrawn a hefty subsidy offer to a medical-device company after the firm and its leader were hit with criminal charges.
A Minnesota medical-device firm’s push for $800,000 in state subsidies toward a major expansion is in limbo after the company and its chief executive were indicted by a federal grand jury.
Officials with Polaris Industries, Inc., said Friday they’re adding 100 jobs as part of a $20 million expansion project in Plymouth. The Medina-based company, which makes off-road vehicles, ATVs and snowmobiles among other vehicles, is purchasing an existing 120,000 square foot building and will renovate it.
Businesses looking to expand their operations and hire new employees in Minnesota may not qualify for help from a new job creation fund. The program was announced Friday by Gov. Mark Dayton and Katie Clark Sieben, commissioner of the Department of Employment and Economic Development. “The $24 million Job Creation Fund is now open for business,” Katie Clark Sieben said. She says the “pay for performance” business development initiative will help create 5,000 jobs, and another $450 million of private investment into the economy.
Minnesota lawmakers are pushing a new grant program that would give government rebates and bonuses to companies that upgrade facilities and add new jobs.