DEED in the News

Back-from-dead Angel Tax Credit behind 70 investments in 2019, with more still available Minneapolis/St. Paul Business Journal - 12/11/19 Just in time for the holidays, DEED announced on Wednesday that it still has $750,000 in angel tax credits remaining for 2019. The credits give investors a tax credit of 25 percent on their investments in startup companies based in Minnesota.

Narrowing gender wage gap in Minnesota depends on where you live Star Tribune - 12/13/19 Women in Minneapolis who work full time now make 95.1 cents for every $1 of men in annual earnings, based on the most recent survey data from the U.S. Census Bureau. The report’s data about Minneapolis were solid. But as DEED’s Sanjukta Chaudhuri, one of the state’s top researchers on this issue, noted: “It doesn’t tell us the full, nuanced story.”

Updates from DEED

Four Minnesota Businesses Receive Job Creation Funding

DEED is supporting business expansions in four Minnesota cities with $412,515 from the Job Creation Fund, which provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.

What Minnesota Manufacturers are Doing to Address Hiring Difficulties

Finding workers to fill open jobs in manufacturing is more difficult now than any time since the start of the Great Recession. As hiring outpaces the number of applicants, manufacturing employers are ramping up investments in training and retention strategies, according to an article by Alessia Leibert in Minnesota Economic Trends magazine.

Angel Tax Credits Still Available

As of December 10, there is $750,000 in credits remaining for 2019 – so there’s still time to participate, but the cutoff date for investments to qualify for the credit is December 31. The program will not operate in 2020, but will be back the following year.