Despite welcome signs that our state's economy is beginning to stabilize after a long and painful recession, Minnesota still faces a serious jobs deficit.
Our most recent economic report shows that more than 175,000 Minnesotans are out of work and looking for jobs. Other Minnesotans are either underemployed or have simply given up looking for work in this difficult economy.
This legislative session, jobs should be our top priority. We need to think strategically and work together to get Minnesotans back to work. And we should do it right away.
That is why we joined Gov. Mark Dayton to introduce a jobs plan to get Minnesota working again.
It will help businesses grow and will retain good jobs in Minnesota by focusing on the things that have proven to work: providing small businesses with new incentives to create jobs, giving workers the training they need to get jobs in high-demand industries, and making smart, targeted investments in the state's infrastructure.
Included in our jobs plan are several initiatives we hope will receive swift, bipartisan support in the Legislature.
To help businesses grow and create jobs, we're proposing the creation of a New Jobs Tax Credit that would provide a business with a $3,000 tax credit for each unemployed Minnesotan, veteran or recent graduate hired in 2012 and a $1,500 credit for each new hire through June 2013.
Given the budget challenges facing our state, we believe it's critical that any incentives given to businesses right now be directly tied to job creation. Several Republicans have said they would like to pass across-the-board corporate tax cuts this session, despite the fact that Minnesota faces a long-term budget deficit approaching $4 billion.