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| Date: | March 19, 2012 | | Contact Name: | Susan Closmore | | Contact Phone: | 651-296-5712 | | Contact Email: | susan.closmore@senate.mn | | For Immediate Release | |
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| Nelson Jobs Bill For Greater Minnesota Passes Jobs Committee |
St. Paul- The Senate Jobs and Economic Growth Committee passed a bill (SF 2355) Friday aimed at spurring job growth in communities outside of the metro area. Senator Carla Nelson (R-Rochester) chief authored the bill which would make qualified investors eligible for a tax credit equal to 40 percent of their investment in qualified, high tech start-up companies in greater Minnesota. Senator Nelson gave the following statement on the bill’s progress.
“I’m thrilled to have the Jobs Committee approve my bill to encourage job creators to establish and expand their high tech businesses in greater Minnesota. I know firsthand from the great businesses we have in Olmsted County that the greater Minnesota community is ripe with innovative, entrepreneurial ideas. We can bolster those job creators’ efforts by making it easier for them to secure capital from investors,” said Senator Nelson. “Jobs are our number one priority this legislative session – this bill is a step in the right direction and contributes to the economic prosperity of our statewide community.”
Senate File 2355 is now headed for the Senate Taxes Committee. Its companion bill in the House (HF 2332) is authored by Representative Rich Murray (R-Albert Lea) and is awaiting committee action.
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