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ill lit-1A <br /> Minnesota 's Tax Reform <br /> Attracts New Business � <br /> M <br /> Workers compensation rates have fallen nearly 30 percent S ?, <br /> since 1993, unemployment insurance rates are also decreas- <br /> ing, and new manufacturers are exempt from sales tax on RQQ <br /> capital equipment. <br /> I <br /> innesota's commitment to attract- <br /> ing and retaining business is <br /> j more than just a promise. <br /> In the early 1990s,the state legislature <br /> temporarily froze workers'compensation <br /> premium levels,helping the premium <br /> rates fall nearly 30 percent since 1993. <br /> The legislature also recently reduced the <br /> sales tax on replacement capital equip- <br /> ment for manufacturers.The rate will <br /> decrease each year until it hits 2 percent <br /> in mid-1998. <br /> i <br /> New and expanding manufacturers are <br /> granted a sales tax exemption on capital <br /> { equipment.Also,the state's unemploy- <br /> ment insurance rates have declined in <br /> l recent years. <br /> u <br /> I Minnesota businesses indeed prosper in <br /> the state.Last year,Business 6i eek maga- <br /> zine included four linnesota companies <br /> on its list of"Hot Growth Companies," <br /> and Formes magazine's recent list of"The <br /> 200 Best Small Companies in America" <br /> included 13 Minnesota companies. <br /> New York-based Foodland Industry <br /> decided to build its new 21,000 square <br /> foot rice cake manufacturing facility in <br /> Aitken,largely because of its proximity to <br /> the rice fields that supply its main prod- <br /> uct.But Minnesota also offered the com- <br /> pany a host of other benefits. <br /> "Transportation is excellent and the <br /> infrastructure is there,"said actor <br /> Schlesinger,chief engineer at Foodland. <br /> "We ship all over the countn-and Min- <br /> nesota is in the middle,so it's[within 36 <br /> hours]of every destination in the country-." <br /> Proving its capabilities in the high tech <br /> arena,Minnesota has more than four <br /> times the national share of employment in <br /> the computer industry.More than 1,800 <br /> I <br /> technology-intensive firms representing <br /> 23 technological disciplines do business in <br /> Minnesota. <br /> Indicate information number 92 —Ann K Morris <br /> 94/May-June 1996/Expansion Management For free information from advertisers call 800-539-7263 or see us on-line at http://www.expandman.com <br />