Minnesota's Department of Trade and Economic Development (DTED) offers a variety of programs to encourage expansion of existing industries and to attract new industry to the state. The Department extends loans to small businesses for capital investments which create or retain jobs. It awards grants to new or expanding companies in rural areas and provides limited guarantees to private lenders for loans given to start-up companies. A Tourism Loan Program offers low-interest loans to tourism-related businesses to upgrade existing facilities or develop new ones. The Minnesota Export Finance Authority assists with the financing of small business exports. The state offers grants to depressed communities to help them retain or attract business or to rebuild their infrastructure. Minnesota's corporate income tax is structured to favor companies having relatively large payrolls and property (as opposed to sales) within the state. In 2003, a new initiative called Positively Minnesota was guiding economic development efforts. The primary goal was to capture a great share of business expansions. As a group, Positively Minnesota included economic developers, utilities and private firms as well as the DTED. In mid-2003, particular attention was being given to developing the state as part of a biosciences hub.