EDSR INFORMATION 11-08-2010~ ~
FEATURED BUSINESS
EXPANSION
GOODRICH AEROSPACE
CORPORATION
ON AUG. 6, GROUND WAS
BROKEN just south of Minneapolis
in the city of Burnsville on the first
phase of a $249 million expansion
project at Goodrich Sensors &
Integration Systems (SIS). Parent
company Goodrich Corporation
is a global supplier of a number of
security sensors, integrated systems
and related services to aerospace,
defense and homeland security
markets. The expansion at Goodrich
SIS entails construction of a wind
tunnel and additional manufacturing
space that will allow for the retention
of 1,425 Minnesota employees, and
an additional 228 new jobs will be
created. The Minnesota Department
of Employment and Economic
Development (DEED) assisted the
project by proposing and promoting
legislation that exempted the company
from paying sales tax through 2015
on materials, supplies and equipment
purchases that are directly for the
expansion.
For information on other Minnesota business
expansions check out the month) issy ues of
EmplaymentReview.
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FEATURED BUSINESS-ASSISTANCE PROGRAMS
MINNESOTA
TRANSPORTATION
ECONOMIC DEVELOPMENT
PROGRAM (TED?
MINNESOTA'S NEW TED
PROGRAM makes $3!~ million
available to communities (government
entities) for highway ar~d public
infrastructure improvernent projects
that create new jobs and support
economic development. The program
is a collaboration between DEED
and the Minnesota Department
of Transportation (MnDOT). Up to
70 percent of the costs for trunk
highway interchanges and trunk
roadway improvements and up to
50 percent of the costs for related
public infrastructure costs may be
eligible per project. DEED also has
additional public infrastructure grant
dollars available (Minnesota Business
Development Public Infrastructure
rp o~c ram). DEED and MnDOT will host
TED information sessions at multiple
state locations Oct. 25-28. The Phase
I Grant Applications are due Dec. 10,
2010. For more specifics, please refer
to DEED's website
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ANGEL INVESTMENT TAX
CREDIT
MINNESOTA RECENTLY
ADOPTED AN ANGEL TAX
CREDIT to stimulate investment
in small businesses utilizing new
technologies. To date, DEED has
approved the certification applications
of 78 businesses, 78 investors and four
investment funds. Just under $2 million
in angel tax credits has been allocated
leaving a balance of $9 million yet
to be utilized for 2010. Please direct
growing Minnesota-headquartered
companies and potential investors
to the DEED Web page at www.
Positiv~Minnesota.com/anaelcredit,
where the qualifying information and
tax credit applications can be found.
View a List of Minnesota Job Skills Partnership Awards.
View a List ofRe~ent Program Grant Awards.
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FEATURED LINK
NEW TIF LAW SPURS
ECONOMIC DEVELOPMENT
TO MEET THEIR SPECIFIC
DEVELOPMENT and
redevelopment needs, many
Minnesota communities are using the
expanded tax increment financing
district (TIF) powers authorized in
the last legislative session. Compact
Development District, which expires
June 30, 2012, is a new form of TIF
district that allows for the creation of
TIF in areas of existing commercial/
industrial development where
redevelopment increases density.
An Economic Development District
TIF was expanded to facilitate any
type of development creating or
retaining jobs without regard to
existing use limitations on housing,
retail or medical facilities. Districts
must be certified by June 30,
2011, and construction must start
no later than July 1, 2011. Broad,
temporary authority to spend tax
increment from any existing TIF
district (pooling capacity) to assist
private development construction
and redevelopment was also granted
with authority expiring Dec. 31, 2011.
Communities are encouraged to
contact their public finance advisor
for detailed information. Basic
information on this law change and
other tax incentives can be found on
the DEED website
FEATURED EVENTS
GE AVIATION SUPPLIER
SYMPOSIUM -DEC. 7, 2010
DEED AND THE MINNESOTA
CHAMBER OF COMMERCE'S
Grow Minnesota! program are
facilitating an exciting event to
stimulate new market opportunities
for small businesses interested in
supplying aerospace corporations
and defense contractors. A GE
Aviation Supplier Symposium will be
held on Dec. 7, 2010, at the Sheraton
Bloomington Hotel, Bloomington,
Minn. This symposium will provide
an exclusive opportunity for small
businesses to connect directly with
GE Aviation (GEA), GEA's regional
Tier 1 suppliers as well as other local
Minnesota buyers. Minnesota small
businesses (less than 500 err~ployees)
with an interest in attending this
event should phone Heather Rand at
DEED toll free 1-888-345-4528 or Bill
Blazer at the Minnesota Chamber of
Commerce 651-292-4658.
TRADE MISSION TO CHINA
AND JAPAN - SEPT. 9 - 18
TO HELP BOOST THE EXPORTS
of Minnesota products, about 45
representatives from business,
education, cultural institutions and the
state participated in a trade mission
that was led by Gov. Tim Pawlenty to
China and Japan from Sept. 9 to 18.
The agenda included visits to Shanghai,
China, and Tokyo, Japan, for meetings
with business leaders and government
officials, presentations by market and
industry leaders, networking receptions
and site visits. Mark Lofthus, the business
and community development director
from DEED, joined the governor for
meetings in Osaka, Japan, with Daikin,
the parent company of McOuay
International, an air conditioning
manufacturer with operations in the
Twin Cities, Owatonna and Faribault.
Delegates learned about resources
and services for doing business in these
countries. In addition, many of the
delegates participated in one-on-one
meetings with potential distributors and
companies. The U.S. Consulate staff in
Shangf~ai and the U.S. Embassy staff
in Tokyo briefed the delegates on the
market and opportunities in each country
Gov. Pawlenty and the delegates also
visited the Shanghai World Expo and
the operations of several Minnesota
companies doing business in Asia, such
as Best Buy and Medtronic. Lofthus also
met with companies in Korea looking to
invest in the United States.
MINNESOTA DEVELOPMENT
CONFERENCE -SEPT. 29-30
A TOTAL OF 423 REGISTERED
GUESTS participated in the 15th
annual Minnesota Development
Conference held Sept. 29 - 30 at
the Crowne Plaza Riverfront St. Paul
Hotel. According to the evaluations,
those attending found the conference
theme of transformation relevant and
found valuable continuity among
the breakout-session offerings.
Presentations from the Minnesota
Development Conference can be
downloaded from DEED's website.
Please save the date for next year's
Minnesota Development Conference
scheduled again for September 29-30
in 2011 at the Crown Plaza Riverfront
St. Paul Hotel.
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FEATURED NEWS
PROPERTY ASSESSED CLEAN
ENERGY (PACE)
PROPERTY ASSESSED CLEAN
ENERGY (PACE) is a mechanism
that allows property owners, primarily
commercial, seeking to make major
energy efficiency investments to
opt in to a special tax or assessment
district. Property owners borrow
money to finance energy-efficient
improvements and/or renewable-
energy equipment and repay over
time through a line item in their
property tax bill. The repayment
obligation is attached to the property
not the individual. A platform is being
created through a statewide steering
committee to provide guidance
ensuring PACE can be replicated
across the state. This platform of
stakeholders is to collaborate,
communicate and investigate the
need for program enhancements
and potential legislative changes. The
PACE steering committee has formed
several subcommittees focusing on
finance, program design, marketing/
outreach, government legislation
and technical/quality assurance and
training. A webinar is being planned
for late-November or early-December
to update people around the state
who have an interest in PACE. An
announcement will be on the DEED
website and e-mails will go out
regarding the details.
POSITIVELY
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Department o(Employment and Economic Development
MINNESOTA JOB SKILLS
PARTNERSHIP AWARDS
Third Quarter 2010
APPLICANT/EDUCATIONAL
INSTITUTION BENEFITING BUSINESS(ES)
AWARD
PineTechnical College Metal-Matic $49,921
Dunwoody Hood Packaging & Walter G. Flnderson 540,845
Minnesota Department of Employment and Economic. Development
332 Minnesota SttRet Suite E200
Sr. Paul MN ti,i101-1351
651.) ~ a7~1?,2 1 £i0t'~ r / ,h`id 1 IY I.HOQFi.'57.141Li
PosiYivelvMinnesotacom
PROGRAM GRANT AWARDS
Third Quarter 2010