Job Opportunity Building Zone

Job Opportunity Building Zone (JOBZ) is designed to stimulate economic activity within certain geographical areas by providing a number of state and local tax exemptions for qualified businesses.

Tax exemptions are provided for:

• Corporate franchise tax
• State income tax for operators or investors, including capital gains tax
• Sales tax on goods and services used in the zone
• Property tax on commercial and industrial improvements (but no exemption on land)
• Additionally: An employment tax credit is provided for high-paying jobs.

Eligibility

• Eligible businesses include those starting-up or expanding within a designated zone, businesses relocating from other states, and business relocations within Minnesota, provided certain job creation requirements are met.
• Businesses must locate within a designated JOBZ zone.
• Retail businesses are not eligible.

Requirements

• Jobs created must pay at least 110% of the federal poverty level for a family of four (including benefits not mandated by law).
• Businesses relocating within Minnesota must increase their total employment by at least 5 jobs or 20% of their workforce, whichever is greater. These new jobs must be maintained for the duration of the JOBZ zone.
• Businesses locating in a JOBZ zone must sign a development agreement with the city.

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