Business

Businesses need the best possible environment to succeed. As such, moving it to Minneapolis might be its best chance to bloom and grow into what it was meant to be. Minneapolis is one of the most progressive cities in the whole of America. Due to factors that we shall discuss in a short while, we shall see why business owners have been looking at Minneapolis to be home for their companies. Here are some of the reasons why you should move your business to Minneapolis.

Robust economy

This is one major reason why business owners choose to migrate their businesses to Minneapolis. Minneapolis is home to 19 Fortune 500 companies. The city is also known to be the largest commercial hum between Seattle and Chicago. For this reason, there is always an influx of ambitious, young professionals ready to give 110% to make their dreams a reality. Here there are all sorts of businesses ranging from education, food processing, manufacturing, technology, and insurance to name a few.

Favorable tax advantages

For businesses, the rate at which the government taxes it also shows how willing the government is to doing business. By moving the business to Minneapolis, you effectively take advantage of the fact that the state doesn’t tax personal property, inventories, utilities, internet access, information services or custom-created software. This creates a heaven of sorts for people looking to live a simple, uncomplicated life.

Minnesota Opportunity Zones

This is a type of community development program that’s designed to help small companies secure long term investments for business owners who come from low-income communities. When a business is set in an opportunity zone, they are eligible to receive permanent barring from taxable income generated from capital gains and a momentary tax deferral on the capital gains recorded.

DEED Financing Programs

The Minnesota DEED, or the Minnesota Department of Employment and Economic Development is a tool used to aid businesses to create and retain high-quality jobs. Although the funds vary from one business to another, it has been capped at $1million for the Minnesota Job Creation Fund and $20,000 to $50,000 for the Minnesota Innovation Loans for Entrepreneurs (MILE). All these are created to help the businesses thrive and grow beyond their borders.

Affordability

For people who love the city life, Minneapolis is the best place to be. In terms of affordability, the state is a lot cheaper than other neighboring states such as Iowa among others. In this state, the cost of finding a home is not quite what you expect. For a strong and developed economy such as it is, the average price for a one bedroom apartment is at $900 as compared to $1600 for a three bedroom one in the city center. In a stable and robust economy such as that, having such housing promotes business since people are encouraged to move there. For those who are also looking to have internet at home, Digital exits helps people get the best value for their money when it comes to internet service providers and bandwidth offerings.

Minneapolis is a hub for business and industry. Given that the state has the lowest unemployment numbers in the nation. It is a place where business can flourish and grow at unprecedented scales.