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Jack Link's Beef Jerky gets forgivable state loan to expand in downtown Minneapolis

State officials announced Monday that Jack Link's Beef Jerky is expanding its office in downtown Minneapolis, adding 20 jobs.

And the Department of Employment and Economic Development said the company will get a $100,000 forgivable loan from the Minnesota Investment Fund if it meets hiring goals.

The company is based in Wisconsin, but has a Minneapolis office with 36 employees in marketing, sales, accounting, information technology and product development. With this addition of 20 more, the company will expand its offices in Butler Square.

State officials said average salaries for the new jobs, in sales, human resources and IT management, will be $93,000 a year.

DEED Commissioner Katie Clark Sieben said:

"In today’s globally competitive environment, we are grateful for Jack Link’s commitment to Minnesota and for choosing to add their new high-salaried positions here, where our workforce is our greatest asset."

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Comments (4)

Messin' With Sasquatch

Greatest ad campaign ever! heh.

I wonder.....

Does anyone know where one would be able to view the list in it's entirety? I might be curious to see who else is getting themselves these forgivable loans (Free Money)...

But

what will the jobs we're buying pay and how long do they have to remain employed for the 'loan' to be forgiven?

Details, please.

Pay and income Tax

If you go by the standard tax for that income bracket, 20 people at 93k a year at 7.05% tax, the state would get back all of the "free loan" plus some within a year... I would think it is a good deal considering it gets the company to commit to this state, and this area...