REP. BARRETT INTRODUCES BILL TO GROW BUSINESS AND CREATE JOBS IN CHISAGO COUNTY
St. Paul – State Representative Bob Barrett, R-Lindstrom, today testified on his bill that would grow business and create jobs by increasing Chisago County’s competitive edge over Wisconsin.
Chisago County currently competes unfavorably for business with Wisconsin, because the border state has a lower business property tax rate. As a result, businesses move across the river, and many populate the Osceola Industrial Park where the vast majority of businesses are originally from Minnesota.
Barrett’s bill would begin to remedy this economic disparity by equalizing the business property tax rates in Taylors Falls with those in Wisconsin. House File 1426 would allow the city to provide a five year tax exemption for new businesses in the new Taylors Falls Industrial Park, with the goal of leveling the property tax burden and ultimately boosting the local economy.
“We need to incentivize businesses to come and stay in Minnesota instead of relocating to Wisconsin, and we can accomplish this by leveling the playing field. My bill is the first step to increasing competitiveness for business development in Chisago County,” Barrett explained. “Taylors Falls is the perfect location because it has the infrastructure to accommodate an influx of businesses coming to the area, which will ultimately help boost our local economy.”
Taylors Falls Mayor Mike Buchite testified on behalf of Rep. Barrett’s bill. “This bill will promote new business and create jobs in Taylors Falls,” Buchite said.
The bill was laid over in the House Taxes committee for possible inclusion in a taxes omnibus bill to be determined later this month.