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State and Local Assistance <br />"The Minneapolis <br />area is rich with <br />resources vital to <br />a biotechnology <br />company's growth <br />needs... ". <br />— Biovest <br />International, Inc. <br />Financial Assistance <br />• Foreign Trade Zones — Currently there are eight General Purpose Zone sites <br />in Minnesota including six in the Minneapolis/St. Paul area (FTZ#119) one site <br />in Duluth (FTZ#51) and one site in International Falls (FTZ#259). <br />The locations for the sites are as follows: <br />. Minneapolis Convention Center <br />St. Paul <br />Eagan Industrial Park <br />t> The Greater Airport Bloomington Site <br />Mid -City Industrial Park <br />Seaway Port Authority of Duluth <br />International Falls <br />Bloomington Central Industrial Area <br />Subzones <br />While it is easier and less expensive for a company to realize benefits by <br />utilizing the General Purpose Zones in the Twin Cities area, any company in <br />Minnesota can apply to make its existing facility a Subzone of FTZ #119. <br />FTZs can help business by minimizing duty payments. <br />• The Innovative Business Development Public Infrastructure Program <br />provides grants to local governmental units on a competitive basis statewide <br />for up to 50 percent of the capital cost of the public infrastructure necessary <br />to expand or retain jobs. <br />The projects must be publicly owned infrastructure related to new <br />development, including projects that target manufacturing, technology, <br />warehousing and distribution, research and development, innovative business <br />incubator, agricultural processing; or industrial, office, or research park <br />development that would be used by an innovative business. <br />Funds from this program can also be used for land acquisition and preparation, <br />telecommunications, bridges, parking ramps, demolition, hazard remediation, <br />pre -design, construction, equipment and furnishings. <br />• The Minnesota Office of Business Development partners with <br />MetCouncil Environmental Services to work with companies to lower their <br />overall sewer access charges (SAC) through SAC transfers from communities or <br />by lowering the up -front cost by amortizing the expense over a 10-year period <br />at 2 to 4 percent interest. <br />Production or assembly operations within a Foreign Trade Zone <br />can result in significant savings for a business. <br />25 <br />