Economic Incentives & Tax Credits
High impact incentives for small businesses in Minnesota
Often called the Land of 10,000 lakes and home to the largest shopping mall in America, Minnesota's six major economic regions cover everything from tried and true industries like agriculture and manufacturing as well as up-and-coming industries like FinTech and the Internet of Things. We have a strong foundation of workforce and talent, innovation and technology, infrastructure and quality of life that fuel our businesses success and growth.
Top tax incentive programs for small and medium-sized businesses in Minnesota
Minnesota 21st Century Fund
The Minnesota 21st Century Fund makes loans or equity investments in innovative mineral, steel, or other industry processing, production, manufacturing, or technology projects.
Minnesota Job Creation Fund
The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.
Minnesota Investment Fund
The Minnesota Investment Fund provides financing to help add new workers and retain high-quality jobs on a statewide basis.
The State Small Business Credit Initiative - Automation Loan Participation Program
The State Small Business Credit Initiative (SSBCI) is part of the American Rescue Plan Act (ARPA) of 2021 and includes $10 billion for state, territory and tribal business finance programs.
Minnesota Research and Development Tax Credit
Companies that engage in certain research and development (R&D) activities in Minnesota may qualify for the Credit for Increasing Research Activities.
Greater MN Job Expansion Program
The program provides tax benefits to businesses located in Greater Minnesota that increase employment. Qualifying businesses that meet job-growth goals may receive sales tax refunds for purchases made during a seven-year period.
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Get the Tax Money You're Owed in Minutes
Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.
Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.