Minnesota

Sectors it is courting

• Agribusiness
• Healthcare
• Energy
• Financial Services
• Food and Beverage
• Industrial Materials
• Information and Communication Technology
• Aerospace and Defense
• Automotive
• Retail Trade
• Medical Device

In its own words: Transportation - Recreational Vehicles and Heavy Vehicles — typed in free text, so not filterable above.

Investment it is seeking from

• Austria
• Canada
• Denmark
• France
• Germany
• Ireland
• Japan
• Mexico
• United Kingdom
• Vietnam
• Israel
• South Korea
• Australia
• Switzerland
• Italy

Site-selection services it offers

The state has found an effective way to assist foreign investors in Minnesota by splitting their services between consulting-type service and concierge-type services. On the consulting side, Minnesota can help you identify possible locations for your business, partners and services to fulfill your workforce needs, serve as a resource as you build out your business and help you navigate the system, and explain the different means and methods for being successful in the U.S. On the concierge side, Minnesota can introduce you to the best partners to help realize your vision, help you enter the ecosystem, and make your entry easier - including identifying places to live and how ensure your family is happy in Minnesota. Within their agency, Minnesota also runs the business finance programs, workforce training programs, and troubleshoot any issue you might have with other state agencies. Minnesota is focused on problem-solving, from their private businesses down to their governmental units. Minnesota hopes you will have the chance to see their work on your behalf.

Incentive programmes

• Grant

  The Job Creation Fund (JCF) provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. Companies deemed eligible to participate may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements. In some cases, companies may receive awards of up to $2 million. The program is available to businesses engaged in manufacturing, warehousing, distribution, technology-related industries, and other eligible activities. Companies must work with the local government (city, county or township) where a project is located to apply to DEED to receive designation as a JCF business. The Minnesota Jobs Skills Partnership (MJSP) works with businesses, educational institutions and nonprofit organizations to train or retrain workers, expand work opportunities and keep high-quality jobs in the state. The goal is to target short-term training for full-time employment in the growth sectors of the state’s economy. The state also provides grants of up to $400,000 to educational Institutions that partner with businesses to develop new-job training or retraining for existing employees.

• Tax Credit

  Minnesota's Angel Tax Credit provides a 25-percent credit to investors or investment funds that make equity investments in startup companies focused on high technology, new proprietary technology, or a new proprietary product, process or service in specified fields. The maximum credit is $125,000 per person, per year ($250,000 if filing jointly). The credit is refundable. Residents of other states and foreign countries are eligible. The Greater Minnesota Job Expansion Program provides tax benefits to businesses located in Greater Minnesota that increase employment. Qualifying businesses that meet job-growth goals may receive sales tax refunds for purchases made during a seven-year period. Companies that engage in certain research and development (R&D) activities in Minnesota may qualify for the Credit for Increasing Research Activities. The R&D credit is equal to 10% of qualifying expenses up to $2 million, and 2.5% for expenses above that level. Qualifying expenses are the same as for the federal R&D credit - defined in Section 41 of the Internal Revenue Code - but must be for research done in Minnesota. Examples include R&D-related wages, supplies and research contracted outside your business. Contributions to qualified nonprofit organizations that make grants to early-stage technology businesses in Minnesota also may qualify.

• Loan/Loan Participation

  The Minnesota Investment Fund (MIF) provides financing to help add new workers and retain high-quality jobs on a statewide basis. The focus is on industrial, manufacturing, and technology-related industries to increase the local and state tax base and improve economic vitality statewide. Funds are awarded to local units of government who provide loans to assist expanding businesses. Cities, counties, townships, certain development authorities and recognized Indian tribal governments are eligible for this fund. All projects must meet minimum criteria for private investment, number of jobs created or retained, and wages paid. At least 50% of total project costs must be privately financed through owner equity and other lending sources (most applications selected for funding have at least 70% private financing).

• Other

  Launch Minnesota is a statewide collaborative effort to accelerate the growth of startups and amplify Minnesota as a national leader in innovation. The resources will focus on innovative scalable startups. Visit mn.gov/launchmn to learn more and see the grant recipients to date.

Shovel-ready sites

• Sites certified under our Shovel-Ready program have had all of the planning, zoning, surveys, title work, environmental studies, soils analysis and public infrastructure engineering completed prior to the site being offered for sale.

  Site details

Programmes for international technology startups

Launch Minnesota is a new initiative spearheaded by Minnesota's Department of Employment and Economic Development (DEED). Designed in consultation with legislators from both parties, and alongside dozens of private sector leaders, the program exists to help grow Minnesota's startup ecosystem. Launch Minnesota has several offerings to grow our innovation ecosystem: 1. A series of Innovation Grants for research and development, business liquidity, even childcare/housing assistance - to make it easier to get your startup off the ground. 2. An Angel Tax credit to incentivize investments from venture capitalists in Minnesota startups. 3. Education Grants that empower community builders to train startups on critical skills in building a technology startups. You can find more detail on each of these offerings throughout the Launch Minnesota website. All financial incentives are available by application, and the state's Advisory Board guides decisions on award-winners. Beyond these incentive programs, Launch Minnesota seeks to bring their statewide startup industry together to create a stronger network of innovators in Minnesota, and to tell the story of their startup growth to the rest of the country. The state recommends visiting their list of accelerators to learn more: https://tech.mn/news/2021/01/28/minnesota-startup-accelerators-the-ultimate-guide.

Programmes for international clean-energy projects

There are a few different programs in Minnesota - mostly focused on developing and supporting the ecosystem in Minnesota. The best contact is Clean Energy Economy Minnesota and Grid Catalyst. Both organizations work to encourage business investment and growth in Minnesota's clean energy ecosystem.

Incubators and accelerators

• 301 Inc.

  301 INC is focused on partnering with emerging food brands. 301 INC strives to support the passion and vision of the entrepreneurs to create breakthrough innovation to enable positive change for the world and enable a successful business. Location: 1 General Mills Blvd Minneapolis, Minnesota 55426; Year Founded: 2012; Application Season: Fall; Programming + Benefits Offered: tried and true technical tools to help you take ingredients, products and packaging to the next level. A world-class supply chain crew with a wealth of resources across all product categories and channels. Relationships from across channels worldwide.

• BetaMN

  The BETA Cohort is a FREE, non-dilutive five-month accelerator where founding teams learn, work, and grow together. The experience includes training around topics that ensure your company is being built upon a firm foundation, while preparing you for the next stage of growth. Year Founded: 2014; Alumni: 162; Program Length: 5 Months; Cohort Size: 14; Application Season: Spring, Fall; Total Funds Raised: $358 Million. A weekly training regime including one after-noon-per-week of two-to-three educational sessions, and an optional workshop to apply what you are learning with your peers. 12-weeks of curriculum to help early-stage startups prepare for their first hire, first round of funding, and transition into growth. BETA Showcase: Demo your product or service to 500+ attendees including the media, investors, potential customers, and general tech enthusiasts. BETA Space: Accepted founding teams will be invited to work out of the BETA Space for the duration of the BETA cohort, at no cost. Press: Share your quarterly updates with the BETA team who will work with local reporters to help you share your story via a variety of mediums. Peer-To-Peer Support: Join the bi-weekly check-ins to share learnings and troubleshoot critical issues facing your business.

• gener8tor

  gener8tor is a nationally ranked accelerator that invests in high-growth startups. For each cohort, gener8tor invests $100K in each of five startups who receive a concierge experience during their 12-week accelerator program. Location: 1330 Lagoon Avenue Suite 400 Minneapolis, MN 55408; Alumni: 95; Program Length: 12 Weeks Cohort Size: 5; Total Funds Raised: $300M+. Programming + Benefits Offered: $20,000 cash investment in exchange for 6-7% common stock equity. $80,000 of guaranteed follow-on capital from gener8tor (uncapped convertible note). Access to staff interns (development, design, marketing, social media, journalism, business development, sales and more). $1M+ in deals and perks from vendors like IBM Cloud, Rackspace, Amazon, PayPal, Zendesk and Microsoft. Support from the gener8tor team and network of alumni and mentors.

In its own words

The state's strategic plan continues to be positioning Minnesota as a North American destination for investment in the solutions the world needs in life sciences, clean energy, agribusiness, transportation, advanced manufacturing, retail, enterprise technology, and fintech/insuretech. Minnesota also has a special focus on working with women-owned and women-run businesses. Minnesota's strategic plan isn't just about landing new businesses, it is also focused on working with the existing foreign-owned businesses in Minnesota and nurturing the new ones to get them integrated into the Minnesota ecosystem. Minnesota does that by hosting events like the annual Foreign Owned Enterprises Forum where Minnesota brings in top speakers to share insights with the executives from their foreign-owned enterprises and to help Minnesota network across the industries. Minnesota works with their foreign-owned enterprises to solve workforce challenges including trying to find ways to incorporate the successful workforce training programs operated at home offices (apprenticeships and internships) into an American system.

Regional partner organisations

• Medical Alley Associationkjordan@medicalalley.org
• GreaterMSPmorgan.hill@greatermsp.org
• Greater Mankato Growthrvesey@greatermankato.com
• APEXian@apexgetsbusiness.com(218) 740-3667
• Clean Energy Economy Minnesota

Who to contact

• Elise BuchenInternational Business Development Managerelise.buchen@state.mn.us(651) 387-0335

180 Fifth Street East, Suite 1200, Saint Paul, MN 55101