Rep. Selcer: Jobs bill includes historic tax cut for Minnesota Businesses

As our economy recovers, I continue to hear from folks in Eden Prairie and Minnetonka about the need for job growth and economic development in Minnesota.  I have made jobs one of my top priorities this session, and yesterday, the House passed the Jobs, Commerce, Energy and Housing Budget Bill.  This omnibus Jobs Bill reverses a decade of cuts to economic development and makes strategic, proven investments that will create new jobs in our state.

The bill provides significant support for small business, including a $346 million tax cut for Minnesota employers.  This is the largest business tax cut in Minnesota history and will save the average employer $150 per employee.  These savings are achieved by reducing the amount that employers pay into the Unemployment Insurance Trust Fund.  This will free up more money for Minnesota businesses to grow and prosper.

The Jobs Bill makes strategic investments in job creation that have been proven to produce results.  This includes the Minnesota Investment Fund (MIF), which is one of the state’s leading job creation tools.  MIF provides financial incentives to companies looking to move to Minnesota or expand within the state.  Other job creation measures include needed accountability measures to help spark job growth and ensure that our investments are being spent wisely. 

We are establishing new Trade Offices to help integrate Minnesota businesses into the global marketplace.  The Jobs bill will open three more Trade Offices in other parts of the world so that Minnesota can compete globally.  Minnesota currently has a trade office in China, to help bring Minnesota products into new markets.

The business community is very concerned about our state’s “skills gap,” and we are working to address this through workforce development.  Many Minnesota businesses have job openings that they are unable to fill with qualified workers.  We are targeting this skills gap by not only updating our education system in the E-12 Education Finance bill, but starting a new apprentice program for manufacturers at Minnesota Colleges and Universities.  The Jobs bill makes additional investments in the Job Skills Partnership and FastTrac to help prospective employees keep up with the occupations that are in the highest demand.

Thank you for being in touch this session, and please continue to contact me with your views.  As always, thank you for the honor of being your voice in St. Paul.

Best,

Yvonne