Medtronic merger stirs political debatePublished 10:03am Tuesday, June 17, 2014
ST. PAUL — A merger that will move Medtronic’s corporate headquarters overseas while expanding the company’s job presence in Minnesota has political candidates arguing over the reasoning and implications.
Democratic Gov. Mark Dayton said he’s been told Medtronic’s tax liability in the state won’t change when it buys an Irish rival and locates the combined headquarters in Dublin. The company’s operational base will remain in Minnesota, with plans to add 1,000 high-end jobs in the state. The governor says the result is a “good deal” for the state.
Republicans running against him said it’s an image blow when a Fortune 500 company relocates. GOP candidates Marty Seifert and Scott Honour said tax and regulatory policies are to blame.
Honour called Dayton “dangerously out of touch” for not expressing alarm at the deal.