Businesses that startup or expand in a zone or relocate from other states or from elsewhere in Minnesota are eligible for the incentives if they meet certain job and wage goals:
- They must increase employment by a minimum of five jobs or 20 percent, whichever is greater, within the first full year of operations in the zone.
- They must pay each employee (including benefits not mandated by law) at a level equal to at least 110 percent of the federal poverty level for a family of four.
A wide variety of businesses may qualify for JOBZ incentives. However, retail development in not eligible.
Qualifying businesses must enter into a formal business subsidy agreement and relocation agreement (if necessary) to receive the incentives and file regular reports with the Minnesota Department of Revenue.