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Business Resources <br />City of Hugo <br />State of MN Programs <br />Minnesota Investment Fund — Is a loan program through the Minnesota Department of <br />Employment and Economic Development to provide loans to assist expanding <br />businesses. Must meet minimum criteria for private investment, number of jobs created or <br />retained, and wages paid. <br />https: //mn.gov/deed/business/financing-business/deed-programs/mif/ <br />Job Creation Fund — The Job Creation Fund provides financial incentives to new and <br />expanding businesses that meet certain job creation and capital investment targets. <br />Companies deemed eligible to participate may receive up to $1 million for creating or <br />retaining high -paying jobs and for constructing or renovating facilities or making other <br />property improvements. In some cases, companies may receive awards of up to $2 million. <br />https://mn.gov/deed/business/financing-business/deed-programs/mn jcf/ <br />Small Business Development Loan - The Minnesota Innovation Loans for Entrepreneurs <br />(MILE) program provides interest-free loans to early stage businesses developing or <br />producing high-tech products or services in Minnesota. This program is an initiative of the <br />Minnesota Investment Fund. <br />https: //mn.gov/deed/business/financing-business/deed-programs/mile/ <br />Minnesota Job Skills Partnership - Program focuses on providing training for both new <br />and existing employees of participating businesses. Businesses must partner with an <br />accredited Minnesota educational institution. Grants up to $400,000 are awarded to <br />educational institution to develop and deliver training specific to the business needs. <br />https: / /nm.gov/deed/business/financing-business/training-grant/partnership/ <br />Minnesota Data Center Sales Tax Incentive - For companies that build data or network <br />operation centers of at least 25,000 square feet and invest $30 million in the first four years <br />qualify for tax breaks. Qualifying projects receive sales tax exemptions for 20 years on <br />computers and servers, cooling and energy equipment, energy use and software. <br />https: / /mn.gov/deed/business/financing-business/tax-credits/data-center-credit/ <br />