|
 |
North Dakota Department of Commerce
The North Dakota Department of Commerce leads the state's efforts to attract, retain and expand economic wealth. Charged with coordinating and focusing the state's economic development resources, the Commerce team works closely with local and regional partners to accomplish that task. The Economic Development and Finance Division provides full-service site location, incentive packaging and business liaison assistance.
Agricultural Products Utilization Commission
The Agricultural Products Utilization Commission (APUC) fosters the development of new and expanded uses of North Dakota agricultural products. APUC dollars can be used for product research, prototype development, feasibility studies, marketing plans and activities where there is a strong potential for development, commercialization and job creation in North Dakota.
Community Development Block Grant
The Community Development Block Grant (CDBG) program awards funds to communities for real property, site improvements and infrastructure, and as a guarantee to fund working capital. CDBG is designed to assist primary sector and retail sector businesses looking to establish or expand in communities and can be debt or equity. The primary beneficiaries of these projects must be very low and low income individuals.
North Dakota Development Fund
Primary sector businesses can secure up to $300,000 in financial assistance for use in real estate, equipment and working capital through the North Dakota Development Fund. The Development Fund provides "gap" financing not available from more traditional sources. Funds are available through direct loans, participation loans, subordinated debt and equity investments. These options provide long-term and short-term capital to new, expanding or relocating primary sector businesses.
The Development Fund also administers the Regional Rural Revolving Loan Fund, which provides funding for primary-sector projects located in a community of less than 8,000 in population or located more than five miles outside the city limits.
Also, administered by the North Dakota Development Fund, the New Venture Capital Program through the Bank of North Dakota is an innovative financial program that provides flexible financing through debt and equity investments for new or expanding businesses in the state of North Dakota.
Partners in Marketing
Partners in Marketing Grants provide up to $25,000 per biennium to local professional economic development organizations for marketing activities that promote primary sector business attraction, retention or expansion. Contact Tracy Finneman, Marketing Director, for more information.
Renaissance Zones
A Renaissance Zone is typically in a city consisting of residential and commercial properties that need to be revitalized and redeveloped to attract businesses and residents. The Act provides for certain types of tax exemptions and credits to encourage investment in these properties.
Tourism Division Grant Programs
The Tourism Division offers a Matched Grant Program that provides a maximum grant of $5,000 for in-state promotion of regional tourism offerings. Contact Fred Walker, International Travel Marketing Director, for more information.
Grants are also offered for local non-profit organizations to funds infrastructure and building needs at new or expanding tourist and recreational facilities. Contact Sarah Otte-Coleman, Director, for more information.
Workforce Enhancement Grants
The Workforce Enhancement Grants provide a mechanism for the institutions of higher education assigned primary responsibility for workforce training in North Dakota to apply for funding to help create or enhance training programs that address workforce needs of private sector employers in North Dakota.
|
|
 |
 |
