Prophet Corp., an Owatonna company that specializes in distributing physical education, athletic, fitness, recreation and health products, announced plans to add 12 full-time jobs with assistance from the Greater Minnesota Job Expansion Program.
In exchange for creating the jobs, Prophet (which does business under the name Gopher Sport) will be eligible for state sales tax refunds of $172,047 on business-related purchases over the next seven years. The company said the new jobs will pay an average wage of $15 an hour.
The Minnesota Department of Employment and Economic Development (DEED) launched the program last year to encourage business growth in Greater Minnesota.
“Prophet Corporation has provided health and fitness professionals with quality products since 1947,” said DEED Commissioner Katie Clark Sieben. “This growing company is a vital part of the community and is adding high-quality jobs to the Owatonna area.”
The Greater Minnesota Job Expansion Program is aimed at businesses that expand outside the seven-county Twin Cities area. Once approved for the sales tax refunds, the companies have three years to meet their employment goals.
To qualify for the program, a business must have operated in Greater Minnesota for at least one year and must commit to expanding its workforce at a single facility. The business must increase full-time employment at the facility by two employees or 10 percent of current employment, whichever is greater.
Public utilities or businesses engaged in retail sales, lobbying, gambling, entertainment, professional sports, political consulting, leisure, hospitality or professional services are not eligible to participate.
Other details about the program are available here on the DEED website.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and our services, visit us at http://mn.gov/deed/ . Follow us on Twitter at twitter.com/mndeed .
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