Only applicants who have been awarded $500,000 or more are required to attend a business subsidy public hearing. If a representative from the business cannot attend the business subsidy public hearing in person, they may join by conference call.
A business subsidy agreement is a contract between the State of Minnesota and a business. It details the rights and obligations of each party, including the number of new FTE positions by which the business will increase employment.
Businesses must submit annual reports detailing employment levels and wage information. Businesses that fail to meet the BSA requirements or that do not file their annual reports on a timely basis are subject to suspension of future sales tax refunds and repayment of prior sales tax refunds.