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Support Programs provide ingredients for success

With the Grand Forks Region EDC’s assistance, you will have access to support programs and resources to help your business expansion or start-up to succeed in the Greater Grand Forks region. The EDC will work closely with you to package your financing to ensure optimal support. Put North Dakota’s favorable tax climate and economic vitality to work for you.

The City of Grand Forks, through its Jobs Development Authority, and the North Dakota Development Fund, have a long history of effectively supporting area businesses. These financing partners will collectively structure a financing package, in cooperation with a lead lender, to support your financial needs and help position you for success.

The Grand Forks Advantage

Summary of Available Programs
Interest subsidy Through the PACE program, the City of Grand Forks may provide a no-interest, deferred loan up to $161,000 to leverage a Bank of North Dakota grant up to $300,000 to collectively reduce the interest paid on a loan used to acquire land or equipment or for working capital.
Low-interest direct financing Loan programs with varying terms may be available to help finance purchases and othe related expansion or start-up costs.
Gap financing The ND Development Fund may provide gap financing through loans not available from most conventional lenders.
Venture capital Flexible financing through equity investments to early stage companies that have completed product development and have established market acceptance.
Workforce training grants Job Service ND provides grants to primary sector employers equal to the state income tax witholding of each new position created in a 10-year period.
Corporate income tax abatements North Dakota may abate taxes for 5 years on increased income realized from a new or expanding primary sector business that produces new wealth in the state.
Sales and use tax exemptions Purchases of select equipment integral to operating a new or expanding primary sector business may qualify for exemptions.
Real estate tax exemptions The City of Grand Forks may consider a five-year declining abatement on the incremental value for new or expansion construction.
Research expense credits Companies conducting new, qualified research may qualify for credits for up to 10 years.
   
   
Site Location
Workforce
Infrastructure
Property
Leadership
Financing & Incentives
 
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Us Today
120 N. 4th St.
Grand Forks, ND 58203
Phone: 701.746.2720
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