Digi-Key To Add 1,000 Jobs Over Decade As Part Of Welfare Package

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Neal St. Anthony, Star Tribune

Digi-Key Electronics, the electronic-components distributor, broke ground late last week on a $200 million expansion project at its Thief River Falls, Minn., headquarters campus that it says will add “at least” 1,000 new jobs within a decade.”

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Tech Giant IBM Is Suing Minnesota For Denying $33m In Tax Credits

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Brian Bakst, MPR

“IBM is seeking more than $33 million from the state of Minnesota over research tax credits the company says it was due.  In a lawsuit filed Wednesday against the Minnesota Department of Revenue, the New York-based technology giant contends that it qualified for more research tax credits than it was granted for a span of a few years.”

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EXCLUSIVE: Q&A w/ Five Star Economic Czar M Langlaard III In A Bid To Build Amazon HQ2 On The Mississippi River

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By Banrep Rearden

Last week, Amazon announced their intention to open a second major US headquarters (HQ2) somewhere in the country, invoking some good ol’ fashioned Minnesota bribery. 

The void of any specifics since then surrounding who was there or what exactly was offered to Amazon by There Is No Crony Capital Club of Minnesota has sent much of local media into a frenzy of useless speculation to create the illusion of journalism.

We do know State Five Star Economic Czar M Langlaard III organized an emergency meeting with There Is No Crony Capital Club of Minnesota overnight, drafting and delivering an offer to Amazon by the next morning — based on some very authoritative sources.

The bid involved a new level of unity between Minneapolis and St. Paul, an offer to build HQ2 on the Mississippi River, equally benefiting both sides of the metro and creating a ceasefire of economic warfare.

Following the leak, Five Star Economic Czar M Langlaard III reached out to clarify and expand on the situation in this unedited Q&A:

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EXCLUSIVE: Minneapolis + St. Paul Unite With A Joint Bid For Amazon HQ2 In Minnesota

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By Banrep Rearden

In a rare display of camaraderie between the Twin Cities of Minneapolis and St. Paul, a joint bid has been drafted and sent to Amazon in appeal for their next headquarters to land here in Minnesota.

The development is fresh off a meeting of the minds that began yesterday afternoon and lasted into the early hours of Friday morning, according to multiple very authoritative sources.

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Minneapolis 3D Printing Startup Captures $225k NSF Grant

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Via News Release

“MINNEAPOLIS–(BUSINESS WIRE)–Chromatic 3D Materials is poised to change the world of 3D printing by inventing the next generation of printing materials that will deliver the durability required for finished manufactured goods. The startup was recently awarded a Phase I National Science Foundation (NSF) grant at the highest level, and advanced to the Minnesota Cup finals, the largest statewide startup competition in the country.”

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The 2017 Minnesota Tech Welfare Watch Halftime Report

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In January this year, we began tracking a new metric associated with Minnesota’s technology industry: public handouts for private business benefit, aka corporate welfare.

This foray was respected by some and questioned by others — though most have exercised their Minnesota nice by just keeping quiet.

We took this measure to provide transparency into who or what is receiving financial benefit from the government at the expense of taxpayers. So, in addition to the M&A Halftime Report and the forthcoming Fundraising Halftime Report, this is the Welfare Watch Halftime Report.

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Welfare Watch: June 2017

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Screen-Shot-2017-02-04-at-9.19.04-AM-300x239Welfare Watch is a monthly column for the individuals, nonprofit and private companies in Minnesota’s tech industry that receive government (read: taxpayer) financial support—whether directly or indirectly.

This corporate welfare includes: tax incentives/abatement, grants/loans, reimbursements, subsidy, sponsorship, special favors, etc.

In June there were two big welfare developments:

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Minnesota’s Angel Investor Tax Credit Is Dead — And Why That’s A Good Thing

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As you read the words that form this opinion, know that we have a vested interest in the success of Minnesota’s technology entrepreneurs and the startup community at large. It’s formed with only the longest and strongest views in mind — extending beyond blind, blanket support in any form just for the sake of it.  Not all support is created equal as some methods have unintended consequences, moral or practical trade-offs to consider.

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Digi-Key Sees Secretive Welfare Handout Amidst New State Budget

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Minnesota’s $1.5 billion dollar/year electronics e-commerce distributor Digi-Key first announced the potential for a Thief River Falls expansion of operations back in March, 2017.

The pending one million square foot facility, possibly constructed adjacent to current headquarters, could cost between $200m to $300m and might employ up to 1,000 people within ten years. Maybe?

The uncertainty in this expansion comes down to the contingencies, as the lobbyist aptly noted, based on money from the public (accounts of the many) transferred to the private owners (accounts of the few) at Digi-Key, it was reported:

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Welfare Watch: April 2017

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Screen-Shot-2017-02-04-at-9.19.04-AM-300x239Welfare Watch is a monthly column for individuals, nonprofit and private companies in Minnesota’s tech industry that receive government (read: taxpayer) financial support—whether directly or indirectly.

This corporate welfare includes: tax incentives/abatement, grants/loans, reimbursements, subsidy, sponsorship, special favors, etc.

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