Source: http://www.springvalleyeda.org/Spring_Valley_EDA/JobZ.html
Timestamp: 2013-12-12 16:46:11
Document Index: 74076892

Matched Legal Cases: ['§ 469', '§ 469', '§ 297', '§ 297', '§ 272', '§ 272', '§ 469', '§ 116', '§ 469', '§ 116']

1.	Exemption from individual income taxes as provided under M.S. § 469.316; and
2.	Exemption from corporate franchise taxes as provided under M.S. § 469.317; and
3.	Exemption from the state sales and use tax and any local sales and use taxes on qualifying purchases as provided in M.S. § 297A.68, subdivision 37; and
4.	Exemption from the state sales tax on motor vehicles and any local sales tax on motor vehicles as provided under M.S. § 297B.03; and
5.	Exemption from the property tax as provided in M.S. § 272.02, subdivision 64; and
6.	Exemption from the wind energy production tax under M.S. § 272.029, subdivision 7; and
7.	The jobs credit allowed under M.S. § 469.318.
1.	Any time the City of Spring Valley provides a business subsidy to a Qualified Business or Recipient, that business is subject to the wage levels, job creation and other criteria set forth in this policy and specified in the Business Subsidy Agreement made with the LGU. In the event of a conflict between the requirements of the Business Subsidy statute M.S. §§ 116J.993 - 116J.995 and the JOBZ statute M.S. §§ 469.310 - 469.320, the JOBZ statute shall supersede.
2.	The recipient, in the case of a quantifiable non-JOBZ business subsidy, shall create and retain at least one full-time living wage job for each $25,000 of business subsidy received. These jobs shall be created not later than two years after the date identified in Business Subsidy Agreement.
3.	The qualified business, in the case of a JOBZ business subsidy that is non-quantifiable at the time of the Business Subsidy Agreement, must create and retain for the period of the Job Zone duration or until December 31, 2015. FTE job(s) and jobs retained will be defined in the Business Subsidy Agreement. 4.	The qualified business shall be identified in the Business Subsidy Agreement as a: a.	Trade or business located in and operating in a JOBZ the time of Zone designation; OR
b.	New trade or business start-up located with the subzone; OR
c.	Business expanding in the subzone which is a business that maintains its current operations in its current location and is expanding its operations and its payroll within the Spring Valley’s subzone; OR
d.	A business relocating from another state; OR e.	A business relocating from another Minnesota non-Zone location specifying the City.
5.	The City of Spring Valley may deviate from wage and job criteria by documenting the reason in writing for the deviation and attaching a copy of this reason to the next annual Business Subsidy Report submitted to DEED.
6.	Jobz Requirements of businesses. The City of Spring Valley shall require all businesses receiving a business subsidy to comply with the following:
a.	The business shall attend a properly noticed public hearing shall be held by the City as provided by M.S. § 116J.994, when the value of the subsidy does or is expected to exceed $100,000 from local sources. The purpose of the hearing shall be held to identify define the criteria that the qualified business or recipient shall meet in order to be eligible to receive a business subsidy or become a qualified business for purposes of the JOBZ statute. The hearing shall specify the subsidy provided, public purpose(s) that shall be achieved by offering the subsidy, and shall specify the measurable, specific, and tangible goals committed to by the qualified business. As provided by M.S. 116J.994, Subd. 5., a public notice shall be published in print and if possible, on the internet, at least 10 days prior to the hearing, identifying the location, date time and place of the hearing; and providing information about the business subsidy proposed, including a summary of the terms of the subsidy.
b.	If the business is qualified to receive JOBZ tax benefits, that business shall agree to continue to operations in the jurisdiction where the subsidy is used (the subzone) for the duration of the job zone term.
c.	If the qualified business or recipient is a relocating business under the definition in this agreement, the business shall be required to enter into a binding written “Relocation Agreement between the qualified business and the commissioner of DEED pledging that the qualified relocating business shall: (1)	Commit to signing a Relocation Agreement with DEED; and
(2)	Cease one or more operations or functions at a non-Zone location and begin performing substantially the same functions inside the Spring Valley Zone; or
(3)	Reduce employment at the non-Zone location starting one year before and ending one year after beginning operations in the Zone where its employees in the Zone are engaged in the same line of business as the employees at the location where it reduced employment; and
(4)	Increase full time employment by 20% (measured relative to the operations that were relocated) within the first full taxable year of operation within the Zone and maintains the required level of employment during each year of zone designation; or
(5)	Make a capital investment in the Zone equivalent to at least 10% of gross revenues for the taxable year immediately preceding relocation to the Zone.
d.	The business shall identify an operation start date when business operations for the proposed qualified business are planned to begin in the zone. The date when business operations begin is called the “operation start date”.
3.The qualified business, in the case of a JOBZ business subsidy that is non-quantifiable at the time of the Business Subsidy Agreement, must create and retain for the period of the Job Zone duration or until December 31, 2015. FTE job(s) and jobs retained will be defined in the Business Subsidy Agreement. 4.The qualified business shall be identified in the Business Subsidy Agreement as a: a.Trade or business located in and operating in a JOBZ the time of Zone designation; OR
d.A business relocating from another state; OR e.A business relocating from another Minnesota non-Zone location specifying the City.
c.If the qualified business or recipient is a relocating business under the definition in this agreement, the business shall be required to enter into a binding written “Relocation Agreement between the qualified business and the commissioner of DEED pledging that the qualified relocating business shall: (1)Commit to signing a Relocation Agreement with DEED; and