New program 'Grow Austin' aims to incentivize business growth - KXLT - Fox 47 Rochester MN News, Weather, Sports #rochmn

New program 'Grow Austin' aims to incentivize business growth

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AUSTIN, Minn. (FOX 47) -

The City of Austin is launching a new program for businesses called "Grow Austin." Businesses that expand could get rebates for adding good high-paying jobs.

Job creation funds have been created to pay businesses an incentive for expanding. Rebates could come from the State of Minnesota, the City of Austin, and Austin Utilities.

Austin businesses that invest at least $250,000 in real property would qualify for a 1% rebate up to a $100,000.

The jobs created would have to be high-paying jobs at least 140% of the federal poverty level for a family of four.

 City Administrator Craig Clark said the goal is to position Austin as a progressive community for economic development.

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