ST. PAUL, MN – The House of Representatives passed a robust jobs package today on a vote of 75 to 57 that invests $46 million in funding that will help grow jobs in the St. Cloud area and Minnesota. The omnibus bill also includes provisions for both the Housing and Commerce Committees.
“Creating jobs and putting folks back to work is a top priority,” said Rep. Dorholt (DFL-St. Cloud). “This jobs package will help to move Minnesota forward by creating jobs and investing in our growing economy.”
One of the largest components of the bill includes $20 million for the Minnesota Investment Fund (MIF). MIF delivers funds to Minnesota cities, which they can offer as incentives to help attract out-of-state businesses to their area. This helps companies bring quality jobs to the state and brings $33 in private investment for every $1 it loans out.
“The Minnesota Investment Fund is a great example of how the public and private sector can join together to bring new jobs to communities across the state,” said Rep. Dorholt. “As we work to strengthen our economy, it makes sense to invest in programs like this that have a proven track record of creating jobs and have a good return on taxpayer investment.”
Another component of the bill invests $18 million for a job creation fund. The job creation fund would give funds to the Department of Employment and Economic Development (DEED) to help businesses make capital investments and create jobs in Minnesota. Other investments include $1.5 million for the Minnesota Trade office to help create business relationships that strengthen Minnesota’s economic output and $5 million for a Fast Trac program to help train those looking to start and grow their own business.
The bill allocates $2 million in onetime funding for the Minnesota Film and TV Board. In the past, Minnesota hosted many large movie productions such as the Mighty Ducks, Fargo and Grumpy Old Men. These projects create economic impact through spending on staff, equipment, housing, property rental, and countless other areas. Places like Michigan and Canada now offer greater incentives to film producers than Minnesota, and as a result filmmakers no longer consider investing here. These funds would help bring those economic benefits back to Minnesota.
In addition to these job creation efforts, the jobs package includes a large tax cut for Minnesota employers by reducing the rate that employers pay on unemployment insurance taxes. This will save employers up to $350 million in the next few years. The average Minnesota employer will save $150 per employee.
“These programs are designed to improve Minnesota’s job climate and to make it easier and more likely for private businesses to invest in Minnesota,” said Rep. Dorholt. “The jobs package includes a wide variety of tactics to grow our economy—some offer job training, others offer incentives for private business—but all work towards creating a better Minnesota economy with more jobs.”
Other parts of the bill include a pilot program to increase student achievement and increase the housing stability of highly mobile K-12 students, homeless youth services and trafficked women and youth programs.
A commerce provision in the bill would add additional money for the Office of Broadband Development to ensure rural areas gain access to high speed internet. Broadband internet access has been shown to be lacking in rural areas around the state, which can hinder economic development and business efficiency. Funds for Explore Minnesota Tourism are also in the bill to help promote tourism destinations, like St. Cloud, across the state.
“St. Cloud will benefit from these investments in Greater Minnesota,” said Rep. Dorholt. “The more businesses and visitors that come to St. Cloud, the more jobs we will have and the stronger our economic future will be.”
Rep. Dorholt can be reached by phone at (651) 296-6612 or by email at rep.zachary.dorholt@house.mn.
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