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CHAPTER Is Innovative Business "Innovative business" means a business that is engaged in, or is committed Development Program: Department of Employment and t0 eri a e in, innovation in Minnesota in one of the followin g g g' Economic Development; . Using proprietary technology to add value to a product, process, or service in a high technology field; Minn. Stat. § 116J.43s. • Researching or developing a proprietary product, process, or service in a high technology field; • Researching, developing, or producing a new proprietary technology for use in the fields of tourism, forestry, mining, transportation, or green manufacturing. "Proprietary technology" means the. technical innovations that are unique and legally owned or licensed by a business and includes, without limitation, those innovations that are patented, patent pending, a subject of trade secrets, or copyrighted. "Eligible project" means a bioscience an innovative business development capital improvement project in this state, including: • Manufacturing; technology; warehousing and distribution; research and development; • Bioscience innovative business incubator; • Agricultural bio-processing processing; or industrial, office, or • Research park development that would be used by a bioscience-based an innovative business. Minn. Stat. § 272.02, Suva. 6a. DEED administers "tax-free" job opportunity building zones (JOBZ). In each of these zones, businesses will be eligible for a broad range of tax incentives for a period of 12 years. Under the program, local units of government, including cities, must submit applications to DEED and follow all statutory requirements related to JOBZ. C. Enterprise Minnesota Minn. star. on. t 160. Enterprise Minnesota is a nonprofit business consulting organization, set up by the Legislature that helps small and medium-sized manufacturing companies, education services, and government entities in Minnesota. Enterprise Minnesota operates as afee-for-services 501(c) (3) nonprofit. Enterprise Minnesota 612-373- Enterprise Minnesota focuses on applied research and technology transfer 2900 or 800-32s-3073; and early stage funding. It may provide financial assistance, including loan Minn. star. § 1160.061. guarantees, direct loans, interest subsidies, or equity investments, to sole proprietorships, corporations, other entities, nonprofit organizations, or joint ventures. Financial assistance includes but is not limited to assisting a qualified company or organization with business services and products that will enhance the operations of the entity. D. E-commerce ready cities Minn. Stat. § 116J.037; As a tangential aid to encouraging development, the Department of DEED (651) 297-1291 or (800) Employment and Economic Development may designate cities that meet 6s7-3sss. certain criteria as e-commerce ready. HANDBOOK FOR MINNESOTA CITIES 1s:19 This chapter last revised 12/1/2011