Our state is committed to ongoing economic development statewide, particularly in rural areas. Minnesota continues to help businesses increase their bottom lines through reducing property taxes, lowering worker's compensation costs, and eliminating the sales taxes on all capital equipment.

At the same time, Minnesota has maintained a high quality of life through providing education, transportation, social and environmental services.

Job Opportunity Building Zones - JOBZ in the Worthington Area

• See the list and details of special incentives for the development of businesses in the Worthington area under the JOBZ program  - http://www.wgtn.net/jobz

Commercial and Industrial Property Tax

• Recent state tax reforms are expected to decrease commercial and industrial property taxes by an average of 36 percent in greater Minnesota for a $1 million business facility in 2002, compared to 1997, according to the Minnesota Taxpayers Association.
  
• Minnesota does not tax commercial and industrial personal property, unlike other states in the Midwest.
  
• Minnesota is one of a the few states that exempts intangible property and inventories.

• Advantageous sales tax exemptions in Minnesota include new capital equipment and replacement for manufacturing, energy used for manufacturing and repair/installation charges.
  
• Company employees benefit from no taxes on clothing and food
   

Corporate Income Tax

Minnesota has  a flat corporate income tax. The state's bottom-line tax liability is competitive with other states due to favorable income tax apportionment factors.

A corporate-friendly formula and the state's throwback provisions are particularly advantageous for companies with significant sales outside Minnesota. The research and development (R&D) tax credit also makes the state an attractive place for high-tech manufacturers.
 

Worker's Compensation Costs

• According to the Minnesota Department of Labor and Industry (DLI), total worker's compensation costs for employers peaked in 1994. Costs have declined 21 percent to $1.07 billion in 2000
  
• For the manufacturing industry, Minnesota's comparative cost was 12% lower than the national average in 2002
  
• Minnesota's ranking among the states for the cost of worker's compensation for manufacturers improved between 1992 and 2002, from 34th lowest cost to 19th lowest.

Unemployment Insurance Tax
Thanks to a vigorous economy and low unemployment rates, Minnesota's overall unemployment insurance tax collection declined nearly 21 percent from 1994 to 2001, according to Minnesota Department of Economic Security

Local Tax Benefits
Both county and city governments maintain excellent credit ratings and are known for fiscal responsibility. In recent years, the County of Nobles and the City of Worthington have been at or below their respective levy limits, which has allowed local taxes to main stable, while the community has benefited from community improvements.