Minnesota Administrative Rules

4301.0500 APPLICATION REVIEW AND NOTIFICATION.

Subpart 1.

Commissioner's review and determination.

The commissioner must accept applications at any time and designate businesses until all available funds are committed.

Subp. 2.

Criteria for designation.

A business is eligible for job creation fund designation if the commissioner determines that the project meets the eligibility requirements in part 4301.0300 and fulfills the application requirements in part 4301.0400, and is in the best interests of the state and local area. Following designation, the commissioner shall evaluate the project and award points using the economic and business rating factors in subparts 3 and 4.

Subp. 3.

Economic factors.

The economic factors include:

A.

current number of employees in the business;

B.

the number of full-time jobs to be created;

C.

the wages and voluntary benefits paid in the jobs to be created;

D.

the amount of private capital investment in the project;

E.

how the business will diversify or strengthen the state or regional economy;

F.

the overall return on investment to the state; and

G.

local economic conditions.

Subp. 4.

Business factors.

The business factors include:

A.

industry or product outlook;

B.

projected sales generated from outside Minnesota and the sales that will replace or substitute purchases made outside the state, if any;

C.

amount of local government assistance, including but not limited to tax increment financing, tax abatement, and low-interest loans;

D.

business history; and

E.

project viability including funding commitments.

Subp. 5.

Scoring.

Each project is eligible for a maximum of 100 points. The maximum benefit amount for a project is determined by dividing total points earned by 100, and applying that percentage to the maximum award. The commissioner is authorized to decrease the award if funds are not available, to offset other government assistance, or if other conditions warrant a decrease.

Subp. 6.

Time frame for benefits.

The maximum allowed time for benefits and certification is as provided in Minnesota Statutes, section 116J.8748, subdivision 4, paragraph (b). The time frame is determined by the commissioner based on the scoring in subpart 5 and the estimated length of time needed by the business to receive benefits.

Subp. 7.

Notification.

The commissioner must notify the business in writing of the approval and associated benefits or disapproval of its application.

Statutory Authority:

MS s 116J.8748

History:

38 SR 944

Published Electronically:

January 3, 2014