MOA Lands $250M Tax Break to Kick-Start Expansion
As the 2013 legislative session wrapped up this week, Minnesota lawmakers approved a $250 million tax break designed to jump-start a second-phase expansion at the Mall of America.
The tax break was park of the omnibus tax bill legislators approved just minutes before the session ended at midnight Monday, according to a Pioneer Press report.
The $1.5 billion, long-dormant project would reportedly double the size of the already massive Bloomington mall, adding hotels, a waterpark, a performing arts center, office towers, and hundreds of stores.
Although the funding mechanism is reportedly controversial, the expansion plan was met with bipartisan support, thanks to the promise of new jobs and additional tourists.
For detailed information about the expansion plan and associated tax incentives, read the full Pioneer Press story here.