Oh In-DEED! Five Private Companies get $4.3M for New Jobs

The Department of Employment and Economic Development (DEED), through the Minnesota Job Creation Fund, has awarded $4.3M in taxpayer money to five private businesses for expansion, new facilities, and even some jobs! 

Here’s Five Fast Facts on DEED’s Subsidies:

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1. 💸DEED, Indeed - These five companies have promised to create 321 new jobs and bring in $30M in revenue. DEED said these jobs will help encourage future economic growth.
2. ✋Top Five - The companies include ASV Holdings, Dee Manufacturing, KAMP Automation and Myplas Recycling.
3. 🤷The Who Now? - The Job Creation Fund provides up to $1M in incentives for businesses that meet specific job creation and capital investment targets. 
4. ⬇️Just Sayin’ - It should be noted that we have the lowest unemployment rate in the entire country at 1.8%. 
5. 🫰TBA - There has been no word on when these projects will begin, but according to DEED, they are offering competitive pay, with Kamp promising jobs with an average wage of $42.17 an hour. That’s impressive.

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🔥Bottom line: So, 321 jobs for $4M of our tax dollars. Is that fair? Is it necessary? If you need work, then the answer is “definitely yes.” However, we’re in a unique position with an unemployment rate lower than Barry White’s voice, so this may seem a little excessive to others. But it can also be argued that having guaranteed jobs is always a good thing for any economy. 

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What do you think of these subsidies?

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