A variety of business incentives are available to assist businesses with locating to or expanding in East Central MN.
The State of Minnesota’s Department of Employment & Economic Development (DEED) is ready and willing to assist businesses looking to locate or expand in East Central Minnesota. Their products include low-cost financing opportunities, tax rebates, grants for workforce training and more. Please note that to qualify for most of these programs, your business must be accepted into these programs before the project may start. For more information and to find out how DEED may be able to assist your business, please contact Brad Brzezinski or Kylle Jordan at (651) 259-7114.
Tax Increment Financing (TIF) and Tax Abatement
The East Central MN Region is home to five Counties and 39 Cities. Each of these local units of government have their own TIF, Tax Abatement and Business Subsidy Policies. We encourage you to either contact the jurisdiction directly (a link to contact information for each local unit of government can be found in our Regional Business Assistance Directory click here), or contact the ECRDC Office of Economic Development at (320) 679-4065 #29.
The ECRDC is the Federal EDA designated Economic Development District (EDD) for East Central MN. With this designation comes access to a variety of programs and services available to local units of government, primarily access to grant programs for infrastructure, technical assistance and other needs. For more info on EDA programs, please click click here. For more information, please contact the East Central Regional Development Commission at (320) 679-4065 #29.
Business Financing Programs
East Central Minnesota has access to a variety of loan and loan guaranty programs operated by local, state, federal, cooperative and nonprofit agencies. Eligibility varies by location (a link to contact information for these lenders can be found in our Regional Business Assistance Directory click here, or contact the ECRDC Office of Economic Development at (320) 679-4065 #29.
Revolving Loan Fund
The East Central Regional Development Commission (ECRDC) Revolving Loan Fund (RLF) was created in 1994 to provide gap financing to new, expanding and relocating small businesses in East Central MN. For more information, please click on this link Revolving Loan Fund Brochure