Issue Position: Building a Greater Minnesota

Issue Position

While Minnesota's economy is continuing grow at a good pace, there are areas of the state where the recovery is taking hold more slowly. Making sure our economic recovery is broad-based serves the interests of everyone in Minnesota. To accomplish that, the legislature has focused on a number of actions:

Agriculture Market Value Homestead Credit:

Increasing agricultural land values have resulted in higher property taxes on farmers. This proposal built off our efforts last session to restore the Homestead Credit by expanding the Ag Market Value Credit. The supplemental credit has provided immediate property tax relief to farmers on around 90,000 homestead farms. The average family farmer has seen $460 in property tax relief.

Repeal the Sales Tax on Farm Equipment Repair:

The Legislature passed a balanced budget and we have a budget surplus for the first time since the Great Recession. The repeal of the farm equipment repair sales tax passed with bipartisan support and has provided tax relief to farmers who dealt with challenging weather that affected crops in 2013.

Investing in infrastructure:

We've passed a smart and targeted bonding bill that places a high priority on infrastructure needs throughout Greater Minnesota, including transportation, waste-water and the revitalization of higher education facilities. These investments will bolster regional economic development and the speed of commerce in Greater Minnesota.

Broadband Expansion:

We have improved Greater Minnesota businesses' ability to compete in the 21st century economy by expanding access to high-speed Internet. The broadband law provides $20 million in grants to fund expansion of fiber-optic broadband infrastructure in underserved regions of the state, authorizes local governments to issue bonds for broadband infrastructure development, and removes unnecessary regulatory barriers that hold back broadband development.

Growing Greater Minnesota Businesses:

Helping small business and innovative manufacturing across the state is essential. We've expanded the micro-lending programs at the state's six Initiative Foundations. Since 1985, the six Initiative Foundations have leveraged more than $1 billion and created or retained more than 40,000 jobs. This proposal will increase funding by over $2.8 million, with $475,000 going to each of the six Initiative Foundations located in Greater Minnesota. We've also provided innovation vouchers to help small and mid-sized manufacturers to purchase expertise and services from universities, research institutions, and consulting firms that can help them improve their products, implement new technologies, and achieve growth.

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