Angel Tax Credit Update

Minnesota's economy and growth require us to persuade new businesses to start here and to help young businesses grow here. We have a long tradition of supporting such companies in many ways including providing strong sources for early-stage equity financing. In the early '80s, the SEC staff told me, a rookie enforcement attorney, that the Twin Cities had an equity capital market for young and growing companies unlike anywhere else in the region. I found that to be true into the '90s. But things change. Very early stage equity capital has become much harder to find. Particularly hard hit have been entrepreneurs from outside the wealthier suburbs who don't have personal relationships with potential "Angel Investors."