ST. PAUL, MN – Late last night, the Minnesota House of Representatives approved a major conference committee bill that creates good jobs and cuts taxes for Minnesota businesses.
Rep. Carly Melin (DFL—Hibbing) voted for the bill. It passed by a vote of 73-59. Pending a Senate vote, the bill is set to be signed into law by Governor Dayton.
The Omnibus Jobs, Commerce & Housing budget bill (HF 729/SF 1057) utilizes proven strategies such as low-interest business loans and job training programs to spur economic development and put Minnesotans back to work. It also includes a provision authored by Rep. Melin that creates an incentive program for the use of “Made in Minnesota” solar panels and equipment, which benefit solar panel manufacturers like Silicon Energy in Mountain Iron.
“It’s a great bill that follows through on our promise to focus on job creation,” said Rep. Melin. “Our economy is recovering faster than most states, but there are a lot of Minnesotans who are still looking for work. This bill gives businesses the tools they need to expand and hire more employees. I was proud to support it because of the positive impact it’s going to make on our communities in northeastern Minnesota.”
The jobs bill provides $30 million for the Minnesota Investment Fund (MIF). Those resources allow MIF to provide financial incentives such as low-interest loans to out-of-state businesses thinking of setting up shop in Minnesota as well as in-state businesses thinking of expanding.
In addition, the bill provides $24 million for the Job Creation Fund (JCF), which also provides financial incentives for Minnesota businesses to create jobs. The JCF awards grants to businesses that make a commitment to hire additional employees or make large capital investments. The grants are not paid until businesses meet capital investment and job creation goals.
The jobs bill also includes a massive tax cut for Minnesota businesses. It saves employers a total of $346 million, or $150 per employee for the average business, by reducing the rate paid on unemployment insurance taxes.
Communities in Rep. Melin’s district will see direct impacts thanks to a provision in the jobs bill that creates a special fund financed by reserve taconite production revenue. Those resources are allocated to help fund the following projects:
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Improvements to the City of Hibbing’s water supply system and Memorial Building Arena.
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Public works infrastructure projects for the City of Chisholm.
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Water line replacements and construction of an electrical substation for the City of Keewatin.
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West Range Regional Fire Hall and Training Center merger of existing fire services for Coleraine, Bovey, Taconite Marble, Calumet, and Greenway Township.
Rep. Melin encourages her constituents to contact her with any questions or comments about the jobs bill or any other issue. She can be reached by phone at (651) 296-0172 or toll free at 888-726-0711, by email at rep.carly.melin@house.mn, or by postal mail at 515 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155.