MENU Contact Us Incentives & Exemptions Expansion Incentives and Relocation Support Programs Grand Forks Region Economic DevelopmentBusiness ResourcesIncentives & Exemptions LET’S FIND THE PROGRAMS TO HELP GET YOU STARTED IN THE GRAND FORKS REGION. Contact me: Director of Business Development Brandon Baumbach 701.746.2724 APPLICATION FORMS Grand Forks Growth Fund Primary Sector Certification North Dakota Property Tax Exemption North Dakota Corporate Income Tax Exemption With the Grand Forks Region EDC’s assistance, you will have access to incentives, 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 state of North Dakota, have a long history of effectively supporting business expansions. 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 and North Dakota Advantage Community offers locally-managed incentive programs for business expansion North Dakota has a business friendly tax climate, ranking third when indexed against other states. Landmark tax relief – since 2009, taxes have been reduced by more than $2.4 billion No inventory or francise taxes Lowest workers’ compensation rates in the U.S. The only state-owned and operated bank, with assets exceeding $6.5 billion Direct Financing Interest Subsidy Tax Exemptions & Credits Workforce Training Other Programs Start Up Grand Forks EDA Revolving Loan Fund Businesses may receive a low-interest loan, up to $500,000, through the Grand Forks Growth Fund, for working capital or to purchase machinery, equipment, and real property in Grand Forks County. Federal requirement may apply to loan eligibility. MATCH Loan Serviced by a local lender, the loan carries an interest rate equal to the equivalent term U.S. Treasury Note rate plus .25 – .5 percent. You must have a “BBB” rating or letter of credit to qualify. Loan amount determined based on site of project and the loan term varies up to 20 years. ND Development Fund This fund provides gap financing to primary sector businesses through loans not available from most conventional lenders. Loan funds may be used for real estate, equipment and working capital. Copyright © 2021 Grand Forks Region Economic Development Corporation Website by AE2S COMMUNICATIONS