Minnesota Investment Fund

关于MIF

The Minnesota Investment Fund (MIF) was created to facilitate the creation & retention of high quality jobs on a statewide basis, increase both the local & state tax base, and to improve the economic vitality of the state. The focus of the program is on industrial, manufacturing and technology related businesses.

资格

• 市、县 & townships can apply for funding on behalf of an expanding business.
• Grants are awarded to local governments who, in turn, make loans to qualified businesses.
• Funds cannot be used for retail businesses, industrial park development or working capital.

需求

• Funds must be used for land, buildings, 设备 or training costs.
• Funds may also be used for infrastructure improvements to support businesses.
• MIF participation is limited to 50% of total project costs (most projects selected for funding have at least 70% of their financing coming from other sources)
• Jobs created must pay at least $9.00 /小时($9).73 including benefits) or ($12 / hour in the five-county metro area)
• 51% of created jobs must go to “low-to-moderate income” people.
• Job creation requirements also exist, based upon the amount of assistance provided (generally 1 job per $5,000 in assistance)

利率/条件

• Up to $500,000 is available.
• Interest rates are negotiated
• Term is up to 20-years for real estate and 10-years for machinery & 设备.