EDSR INFORMATION 11-08-2010 - Laserfiche WebLink

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..e+ 4 f ~~ c j `~ C~~+ / ~ FEATURED LINK NEW TIF LAW SPURS ECONOMIC DEVELOPMENT TO MEET THEIR SPECIFIC DEVELOPMENT and redevelopment needs, many Minnesota communities are using the expanded tax increment financing district (TIF) powers authorized in the last legislative session. Compact Development District, which expires June 30, 2012, is a new form of TIF district that allows for the creation of TIF in areas of existing commercial/ industrial development where redevelopment increases density. An Economic Development District TIF was expanded to facilitate any type of development creating or retaining jobs without regard to existing use limitations on housing, retail or medical facilities. Districts must be certified by June 30, 2011, and construction must start no later than July 1, 2011. Broad, temporary authority to spend tax increment from any existing TIF district (pooling capacity) to assist private development construction and redevelopment was also granted with authority expiring Dec. 31, 2011. Communities are encouraged to contact their public finance advisor for detailed information. Basic information on this law change and other tax incentives can be found on the DEED website FEATURED EVENTS GE AVIATION SUPPLIER SYMPOSIUM -DEC. 7, 2010 DEED AND THE MINNESOTA CHAMBER OF COMMERCE'S Grow Minnesota! program are facilitating an exciting event to stimulate new market opportunities for small businesses interested in supplying aerospace corporations and defense contractors. A GE Aviation Supplier Symposium will be held on Dec. 7, 2010, at the Sheraton Bloomington Hotel, Bloomington, Minn. This symposium will provide an exclusive opportunity for small businesses to connect directly with GE Aviation (GEA), GEA's regional Tier 1 suppliers as well as other local Minnesota buyers. Minnesota small businesses (less than 500 err~ployees) with an interest in attending this event should phone Heather Rand at DEED toll free 1-888-345-4528 or Bill Blazer at the Minnesota Chamber of Commerce 651-292-4658. TRADE MISSION TO CHINA AND JAPAN - SEPT. 9 - 18 TO HELP BOOST THE EXPORTS of Minnesota products, about 45 representatives from business, education, cultural institutions and the state participated in a trade mission that was led by Gov. Tim Pawlenty to China and Japan from Sept. 9 to 18. The agenda included visits to Shanghai, China, and Tokyo, Japan, for meetings with business leaders and government officials, presentations by market and industry leaders, networking receptions and site visits. Mark Lofthus, the business and community development director from DEED, joined the governor for meetings in Osaka, Japan, with Daikin, the parent company of McOuay International, an air conditioning manufacturer with operations in the Twin Cities, Owatonna and Faribault. Delegates learned about resources and services for doing business in these countries. In addition, many of the delegates participated in one-on-one meetings with potential distributors and companies. The U.S. Consulate staff in Shangf~ai and the U.S. Embassy staff in Tokyo briefed the delegates on the market and opportunities in each country Gov. Pawlenty and the delegates also visited the Shanghai World Expo and the operations of several Minnesota companies doing business in Asia, such as Best Buy and Medtronic. Lofthus also met with companies in Korea looking to invest in the United States. MINNESOTA DEVELOPMENT CONFERENCE -SEPT. 29-30 A TOTAL OF 423 REGISTERED GUESTS participated in the 15th annual Minnesota Development Conference held Sept. 29 - 30 at the Crowne Plaza Riverfront St. Paul Hotel. According to the evaluations, those attending found the conference theme of transformation relevant and found valuable continuity among the breakout-session offerings. Presentations from the Minnesota Development Conference can be downloaded from DEED's website. Please save the date for next year's Minnesota Development Conference scheduled again for September 29-30 in 2011 at the Crown Plaza Riverfront St. Paul Hotel.