1-888-880-7963 team@starkdev.com

Financial Incentives

Stark Development Corporation has a number of tools available to reduce the cost of capital necessary to start up, expand or relocate your primary sector business to Southwestern North Dakota. By blending programs available from State agencies, our State-owned bank, and other resources, attractive long term rates have been realized for a number of companies.

We strongly believe we are not in the business of creating paperwork, just prepare your business plan and we will open the doors to get your project done. Don’t forget to ask us about the possibility of siting grants that will significantly reduce your start-up costs and preserve capital for operations.

Stark Development Corporation Application for Assistance: PDF | Word

MATCH Program
The MATCH Program is designed to encourage and attract financially strong companies to North Dakota. The program is targeted to manufacturing, processing and value-added industries. Through this program, Bank of North Dakota will participate in loans to financially strong companies and provide interest rates at some of the lowest in the nation.

PACE Fund
The PACE Fund is designed to assist North Dakota communities in expanding their economic base by providing for new job development. This program has two major elements: (1) the participation by BND with a local lender in a community based loan and (2) the participation by the PACE Fund with the local community in reducing the borrower’s overall interest rate.  The borrower must create 1 new job in North Dakota for each $100,000 of total loan proceeds.

Flex PACE
The Flex PACE is designed to provide interest buy down to non-PACE qualifying businesses where the Community determines eligibility and accountability standards. Flex PACE targets essential community businesses without the job creation requirement.

North Dakota Housing Incentive Fund
Capitalized by contributions from state taxpayers, the North Dakota Housing Incentive Fund (HIF) is a means for developing affordable multifamily housing for essential service workers and low- to moderate-income families. Individuals and businesses can support these housing projects by making a contribution to the fund. In return, contributors will receive a dollar-for-dollar state income tax credit. Contributions can be targeted to a specific project or community.

Business Development Loan Program
The Business Development Loan Program through Bank of North Dakota is designed to assist new and existing businesses in obtaining loans that would have a higher degree of risk than would normally be acceptable to a lending institution.

North Dakota Development Fund
A North Dakota Economic Development and Finance fund is designed to provide flexible “gap” financing through loan and equity investments for new or expanding primary-sector businesses in North Dakota.

Workforce Training Opportunities
Job Service North Dakota administers a number of federally funded work force training programs and two North Dakota State funded training programs. The type of training which can be provided through these funding sources are company specific customized training, classroom training, on the job training, occupational upgrading, Workforce 20/20 employee training, North Dakota New Jobs Training and Work Opportunity Tax Credits. Click for more.

Tax Abatements
North Dakota has one of the most favorable tax climates in the Nation for your primary sector business.

  • Property Tax Exemptions: Available for 5 years for any new or expanding business. In addition to or instead of an exemption, local governments and any project operator may negotiate payments in lieu of property tax for a period of up to 20 years.
  • Personal Property Exemption: North Dakota has no personal property tax.
  • Income Tax Exemption: Up to five years for a new or expansion project in a primary sector business.
  • Wage and Salary Tax Credit: Based upon wages and salaries paid.
  • Seed Capital Investment Credit: For investing in a business certified by the Department of Economic Development and Finance.
  • Nonprofit Development Corporation Investment Credit: For contribution to a certified nonprofit development corporation.
  • Venture Capital Investment Credits:Up to 45 percent Income Tax Credit
  • Research Expense Credit
  • Deduction for Selling or Renting to a Beginning Businessperson
  • Sales Tax Exemption: On purchase of manufacturing equipment and agricultural processing plant construction materials.

 

For more information regarding these programs or other programs please contact:

Stark Development Corporation
PO Box 765
Dickinson, ND 58602-0765
(701) 225-5997
1-888-880-7963
team@starkdev.com