MN HF3216

Commissioner of Employment and Economic Development must submit a report within 30 days of enactment to legislative committees identifying current business retention methods and future retention strategies, including methods to identify businesses at risk for relocation or expansion outside the state.

Report must include a proactive plan to identify out-of-state businesses seeking to relocate or expand and strategies to encourage relocation or expansion to Minnesota through use of incentives.

Commissioner shall collaborate with economic development stakeholders from state government, business, and nongovernmental organizations in developing the plan.

Department of Employment and Economic Development shall establish a fast-action economic response team to contact and work with businesses identified as at-risk for relocation or expansion outside the state, or prospects for expansion or relocation within the state.

Fast-action response team must contact identified businesses within 24 hours of identification.