It’s a company that has operations all over the country.
It’s already doing business locally.
Who is it?
We’re pretty sure it’s not a soccer team, but that’s about all the information we’ve got about a company that’s asking the state for $1 million, the Pioneer Press reports.
Both the St. Paul Port Authority and the Minnesota Department of Employment and Economic Development are refusing to identify the company that’s asking for a $1 million forgivable Minnesota Investment Fund loan to expand local operations. It’s also seeking a $400,000 grant from DEED.
The company won’t have to pay the loan back if it creates at least 250 jobs paying at least $13 per hour.
“Without the inducement of MIF, these jobs may not be created in St. Paul or anywhere in Minnesota,” Port Authority CFO Laurie Hanson wrote in a memo urging action in the next several weeks. “Before the loan is approved by the State, the company’s identity will be known.”