Business & Tech
Shakopee Considering Economic Incentives for Shutterfly
Shutterfly expects to create 329 jobs in Shakopee over the next two to five years.
Shutterfly has continued to move forward in its plans to expand to Shakopee.
Shutterfly is looking to build a 217,000 square feet facility that will be located in Shakopee's Dean Lakes Development. The company plans to break ground this year and have the building completed by the end of September 2014.
The Shakopee City Council will consider Shutterfly's request for a 100 percent tax abatement from 2016 to 2024. The total value of the abatement over the nine-year period is estimated to be between $569,078 to $758,771, according to information in the city council agenda.
Also included in the incentive package are Metropolitan Council and city sewer access charge credits of $174,600.
Shutterfly expects to create 329 jobs over the next two to five years and 201 of those jobs would be created in 2014. Another 425,000 hours a year will be filled by seasonal employees, an equivalent of 204 full-time jobs.
An economic impact study by the Minneapolis-St. Paul Regional Economic Development Partnership (Greater MSP) reports that Shutterfly estimates an average wage of $41,000 for full-time employees.
Shutterfly may receive a forgivable loan of up to $1 million from the Minnesota Investment Fund. Shakopee will discuss the loan at the Economic Development Authority meeting on Wednesday.
Scott County is also considering a 100 percent nine year tax abatement request. The estimated value is between $551,159 to $734,878. Use of the county's fiber infrastructure is also part of the discussion between the county and Shutterfly.
A public hearing on the tax abatement for Shutterfly is scheduled for the city council meeting on Aug. 7 at 7 p.m.
Shutterfly is looking to build a 217,000 square feet facility that will be located in Shakopee's Dean Lakes Development. The company plans to break ground this year and have the building completed by the end of September 2014.
The Shakopee City Council will consider Shutterfly's request for a 100 percent tax abatement from 2016 to 2024. The total value of the abatement over the nine-year period is estimated to be between $569,078 to $758,771, according to information in the city council agenda.
Also included in the incentive package are Metropolitan Council and city sewer access charge credits of $174,600.
Shutterfly expects to create 329 jobs over the next two to five years and 201 of those jobs would be created in 2014. Another 425,000 hours a year will be filled by seasonal employees, an equivalent of 204 full-time jobs.
An economic impact study by the Minneapolis-St. Paul Regional Economic Development Partnership (Greater MSP) reports that Shutterfly estimates an average wage of $41,000 for full-time employees.
Shutterfly may receive a forgivable loan of up to $1 million from the Minnesota Investment Fund. Shakopee will discuss the loan at the Economic Development Authority meeting on Wednesday.
Scott County is also considering a 100 percent nine year tax abatement request. The estimated value is between $551,159 to $734,878. Use of the county's fiber infrastructure is also part of the discussion between the county and Shutterfly.
A public hearing on the tax abatement for Shutterfly is scheduled for the city council meeting on Aug. 7 at 7 p.m.
More on Patch:
Business Boom in Shakopee Continues With TE Development
Shakopee Schedules Hearing for Shutterfly ExpansionOpus Plans ‘Valley Park Business Center’ on Old ADC Site
Emerson Deal Approved: $70 Million Shakopee Facility to Bring 500 New Jobs
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