Economic Development in Minnesota – High Subsidies, Low Wages, Absent Standards
reportAn analysis of more than 550 Minnesota economic development disclosure reports— tracking more than $176 million in loans, grants, and tax increment financing (TIF) by cities, regional bodies and state agencies—reveals high costs, low wages, and an absence of standards to ensure that job subsidies produce an effective return on taxpayers’ investment. Lacking standards, the subsidies show no positive relationship to wages, and some are simply subsidizing corporate relocations within the state.