JSDC | Incentives

The Jamestown/Stutsman Development Corporation is prepared to assist you with any of the following approaches to Economic Development:


	Economic Development Fund The City of Jamestown and Stutsman County have a combined Economic Development Fund. A 1-cent city sales tax generates approximately $1.2 million per year for economic development. Add to that a county 4-mill levy which creates an additional $150,000 per year. As part of financial packages, the Jamestown Stutsman Development Corporation (JSDC) makes direct loans, equity investments, interest buy-downs and grants to businesses. Click here to view Word Document. view pdf



	South Central Dakota Regional Council R&D Technical Assistance Grants, Revolving Loan Fund, SBA Micro Loan Program as well as the Community Development Loan Fund. South Central Dakota Regional Council is co-located with the Jamestown/Stutsman Development Corporation at 120 2nd Street SE in Jamestown. Phone: 701-952-8060; E-mail below: scdrc@daktel.com



	Community Development Revolving Loan Fund The South Central Dakota Regional Council currently has up to $500,000 available in this low-cost financing option. Like other funding sources, the number of jobs created would have a bearing on the amount of accessible funds. CDBG Info



	Bank of North Dakota Located in Bismarck, ND, this is the only state-owned bank in the nation. Its mission, established by legislative action in 1919, is to encourage and promote agriculture, commerce and industry in North Dakota. In this role, the Bank acts as a funding resource in partnership with other financial institutions, economic development groups and guarantee agencies Bank of ND



	PACE Loan This is an interest buy down program funded by local government and the Bank of North Dakota. There are no loan size limitations or set owner equity requirements. Funds can be used for working capital and fixed assets. Loan can be written down to a maximum of 5% below prime. PACE Loan



	Northern Plains Electric Revolving Loan Fund When it comes to economic and business development, one more resource never hurt, click on the link to find out more information about a program that is offered exclusively by Northern Plains Electric Cooperative to bolster commerce in its service area (which extends from south of Jamestown to the Canadian border). Northern Plains' Revolving Loan Fund provides loans from a minimum of $5,000 (goes up, depending on project and what is available in the fund which totals $400,000) to provide temporary or permanent financing for capital costs (land, buildings, infrastructure), equipment, and working capital on worthy projects. Northern Plains Website



	North Dakota Development Fund Funded and administered by the state, this program can provide debt of equity frinancing up to $300,000 in "gap financing" for startup and expanding companies. ND Development Fund Guidelines



	North Dakota New Jobs Training Program Provides incentives to businesses that are creating new employment opportunities through business expansion and relocation to the state. The program provides primary sector business with no-cost funding to help offset the cost of training new employees. The North Dakota New Jobs Training Program provides for the capture of the state income tax withholding generated from the new job positions that are created. ND New Jobs Training Funds Info



	Primary Sector Business Certification To qualify for New Jobs Training Funds through the ND Job Service you must be complete the application and be accepted as a "primary sector business" for the state of ND. Primary Sector Business Certification (pdf)



	Workforce 20/20 A program to assist North Dakota businesses and industries in retraining and upgrading worker's skills to meet demands of new technologies and work methods. Workforce 20/20 provides funding assistance to businesses to offset training costs for current workers and new employees when the business is new to the state, expanding employment in the state, introducing new technologies or introducing new production methods. Workforce 20/20



	Agricultural Products Utilization Commission (APUC) The Commission promotes the development of new and expanded uses of North Dakota Agricultural products. APUC provides grants for research, feasibility studies and marketing for agricultural and value-added projects. APUC Info



	ND Tax Incentives for Business No sales and use taxes on machinery and equipment, utilities; reduced sales tax on natural gas. No interstate sales tax on phone line communication. ND Tax Incentives for Business (pdf)



	SBA 504 Makes fixed-rate long-term loans on fixed assets. Funding limits (SBA share of loan) are $1,000,000 or 40% of project cost whichever is less. Interest rate on SBA share is US Treasury note plus 1%. SBA will take a second mortgage and requires owner equity of a minimum of 10%. SBA



	City/County Property Tax Exemption New or expanded businesses or enterprises may negotiate for up to five years full of partial exemption from local property taxes. A second five-year exemption may apply if the business uses agricultural products grown in North Dakota.



	North Dakota Roots Program-home ownership Owning your own home and establishing roots in a community are very much a part of the American dream. The North Dakota Housing Finance Agency (NDHFA) is pleased to be able to help new and returning North Dakotans achieve their American Dream through our North Dakota Roots Program. North Dakota Roots provides new North Dakotans with either a below market interest rate loan or a market interest rate loan that includes down payment and closing costs assistance. North Dakota Roots Program-home ownership