Over 30 communities and counties in North Dakota have more than 80 professional economic developers on staff. These developers are supported by boards of directors that include many of the leaders in their respective communities. This means the people your business needs to succeed already understand and support economic development opportunity for their community. They want to work with you!
In addition, more than 80 communities have voted to support a one percent sales tax that can be used as economic development revenue for staffing, marketing, loan programs and other development incentives.
For example, one county paid 80 percent of a maximum interest buy down for a company expansion. The city paid the remaining 20 percent for a total of $120,000. This joint effort enabled the bank to provide a $1.25 million loan at an effective interest rate of 1.5 percent.
Click here for a list of local economic development organizations.