EDSR INFORMATION 11-08-2010 - Laserfiche WebLink

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~ ~ FEATURED BUSINESS EXPANSION GOODRICH AEROSPACE CORPORATION ON AUG. 6, GROUND WAS BROKEN just south of Minneapolis in the city of Burnsville on the first phase of a $249 million expansion project at Goodrich Sensors & Integration Systems (SIS). Parent company Goodrich Corporation is a global supplier of a number of security sensors, integrated systems and related services to aerospace, defense and homeland security markets. The expansion at Goodrich SIS entails construction of a wind tunnel and additional manufacturing space that will allow for the retention of 1,425 Minnesota employees, and an additional 228 new jobs will be created. The Minnesota Department of Employment and Economic Development (DEED) assisted the project by proposing and promoting legislation that exempted the company from paying sales tax through 2015 on materials, supplies and equipment purchases that are directly for the expansion. For information on other Minnesota business expansions check out the month) issy ues of EmplaymentReview. \, ~_ :, ~~ FEATURED BUSINESS-ASSISTANCE PROGRAMS MINNESOTA TRANSPORTATION ECONOMIC DEVELOPMENT PROGRAM (TED? MINNESOTA'S NEW TED PROGRAM makes $3!~ million available to communities (government entities) for highway ar~d public infrastructure improvernent projects that create new jobs and support economic development. The program is a collaboration between DEED and the Minnesota Department of Transportation (MnDOT). Up to 70 percent of the costs for trunk highway interchanges and trunk roadway improvements and up to 50 percent of the costs for related public infrastructure costs may be eligible per project. DEED also has additional public infrastructure grant dollars available (Minnesota Business Development Public Infrastructure rp o~c ram). DEED and MnDOT will host TED information sessions at multiple state locations Oct. 25-28. The Phase I Grant Applications are due Dec. 10, 2010. For more specifics, please refer to DEED's website ~ ~., ,,r,..r'....-~- ~ ~ ~ ~ ~---- ANGEL INVESTMENT TAX CREDIT MINNESOTA RECENTLY ADOPTED AN ANGEL TAX CREDIT to stimulate investment in small businesses utilizing new technologies. To date, DEED has approved the certification applications of 78 businesses, 78 investors and four investment funds. Just under $2 million in angel tax credits has been allocated leaving a balance of $9 million yet to be utilized for 2010. Please direct growing Minnesota-headquartered companies and potential investors to the DEED Web page at www. Positiv~Minnesota.com/anaelcredit, where the qualifying information and tax credit applications can be found. View a List of Minnesota Job Skills Partnership Awards. View a List ofRe~ent Program Grant Awards. ., ~z-. ..% ~e `` .