Building Job Coalition successes 2010-2013 The Building Jobs Coalition, comprised of around 100 contractors, unions, architects, engineers, economic developers and public officials, believes in growing and sustaining the design and construction industry through passing legislation that will create jobs for unemployed and underemployed in construction. 2010 Jobs Bill Historic tax credit In the first two years of the program, the tax credit has leveraged $536 million in construction activity, including 3,110 jobs and $165 million payments to labor. As a result of the spending on rehabilitation projects, the tax credit has generated $989 million in output in the state’s economy, 6,512 jobs, and $324 million in labor income. For every state dollar of tax credit or grant allowed in the first two years, it is estimated $8.32 in economic activity was generated in Minnesota. - Source: Tuck, Brigid and Linscheid, Neil. 2013. “Economic Impact of Projects Leveraged by the Minnesota Historic Rehabilitation Tax Credit in Fiscal Year 2012.” Angel Investor Tax Credit program The following chart shows businesses helped by the tax credit. Calendar Year 2010 2011 Number of businesses 67 113 Number in metro area 62 102 Percentage of $ in 94% 80% metro area Number of investors 267 758 Source: House Department Research www.house.leg.state.mn.us 2012 117 109 95% 656 2011 Environmental review streamlining Executive order by Governor Dayton that streamlines duplicative state environmental review language. Energy efficiency and renewable energy program Executive order for energy efficiency program for Minnesota’s public buildings. Krummenacher case Redefine State language pertaining to a municipality’s right to award nonconforming variances based on the Minnesota Supreme Court’s decision in Krummenacher v. City of Minnetonka. $531 million bonding bill Bonding bill includes mix of building and transportation projects. 2012 $496 million bonding bill Package includes college buildings, flood mitigation, roads, bridges, beginning funds for Capitol renovations ($44 million). Minnesota Vikings stadium Funding package passes. Construction is expected to support 13,000 jobs, including 7,500 construction and trades workers St. Croix River Crossing Project receives federal approval. At its peak, project will employ 6,200 full-time workers 2013 $178 million bonding bill Despite supporting an $800 million bonding bill, the end result was a $178 million bonding bill that will renovate the Capitol building ($109 million), additional Capitol parking ($22 million), provide flood mitigation ($20 million), fund a veterans home expansion in Minneapolis ($18.9 million) and money for clean water funds ($8 million). Capitol renovations As was stated above, the bonding bill allocated $109 million for renovations. Destination Medical Center A funding package of $585 million passed in the omnibus tax bill. Minnesota Investment Fund An allocation of $30 million passed for Minnesota Investment Fund. The Job Creation Fund was created within DEED and will replace JOBZ. The Job Creation Fund is a performance-based program that will operate statewide, and provide grants that are tied to a minimum level of job creation and investment. The Job Creation Fund has $24 million allocated. State partnership redevelopment Nearly $4 million passed to be used over the next two years for pollution cleanup on brownfield sites. Environmental Response Fund ERF was extended for another 15 years. Minnesota Historic Tax Credit The Minnesota Historic Tax Credit was extended to 2021 (it would have sunset 2015). Transportation Economic Development account (TED) Transportation bill allocates $20 million over next two years. Minnesota Shared Work Program Changes allow employers to continue in program despite layoff of a small proportion of the workforce covered by the program.
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