Toward the end of last year, Trinity Health made a request to the MAGIC Fund, the City of Minot’s economic development resource, for proposed improvements to the soon-to-open new hospital. City Council amended the request for a grant and converted it to an offer for a loan with a portion forgivable. Jill Schramm with the
Read & Share sourced from: Minot Daily News
This story is a week old but will remain part of ongoing coverage and commentary here on TheMinotVoice.com. In the interim, this article linked below from Jill Schramm at The Minot Daily News can bring you up to speed on the City Council’s approval of a $2.9 million TIF for a mixed-use real estate development
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Let me say at the outset, that I’m a supporter of tax incentives and TIF districts. The TIF district approved for the Big M building was an outstanding use; we the taxpayers would have owned and paid for the demolition of that building had it not been saved through use of a TIF. Sometimes the
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TIF stands for Tax Increment Financing. In a very simplified way, It works like this. Say you want to put a second-story addition on your one-story house. The second story will add three bedrooms and $100,000 of value to your house. And you know what comes with new value, right? Yep, added taxes. That new
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It’s an idea that’s been smoldering in Minot, but it hasn’t ignited, yet. But others around us have fanned the flame, and it’s catching on like wildfire. The idea is simple: use economic development resources to improve the quality of life and place — for the people that are already here. Get the rest of
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Grand Forks-based Red Pine Distillery is rolling out special batches of bourbon for members of North Dakota Corn Growers Association. The corn from each barrel will be sourced exclusively from the grower’s farm, aged in oak, and given a special label with details of the harvest. It’s a unique, value-added partnership that’s only possible when
Read & Share sourced from: Grand Forks Herald
When it comes to helping companies grow, it’s often elements in their local supply chain that limit them. And across the country, one of the major needs for food producers is cold storage space. This story from Inforum is a gold mine in economic development lessons from finding what businesses need to investing in the
Read & Share sourced from: InForumIn the marketplace for where to live, there are lots of places vying for a person’s attention. A few stories down in TheMinotVoice news feed, you’ll read about Mandan building indoor tennis courts to enhance the city’s ‘quality-of-life’. In Tulsa, they were more direct in their approach. They wanted to attract remote workers, and their
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If there’s no one to look after the kids, then there’s no one to look after the business. It’s a common story in communities across the country and Minot is no exception. It matters because a lack of child care is a significant choke point on economic development because if businesses can’t find the people
Read & Share sourced from: MPR
Hannah Stelter didn’t always see herself as an artist, but one successful TikTok video put her on a path selling her art online, and now she’s testing her entrepreneurial in a new way, through a real-world shop in downtown Fargo. Check out the story on Designed by Hannah on Inforum.com. This story is particularly meaningful
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Jobs, jobs, jobs — they aren’t hard to find. The tricky part is for the businesses that need qualified people to fill them. NPR has the story on the national trend, but there’s a message we’d do well to take note of here in Minot. We perpetually pursue jobs through economic development, but we already
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The Economic Development Foundation board was established by the legislature in 2001 to provide an oversight role for the state’s economic development efforts. What’s curious about the appointments and the larger board makeup is there isn’t a single member from Minot on the 17-member board. The larger question is does that matter? Is this a
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Tony Gehrig is a Fargo City Commissioner who wonders out loud if the Fargo City Commission is using its economic development incentives properly. Though this relates directly to Fargo, the lesson could be applied to any community trying to entice businesses — for example, Minot.
Read & Share sourced from: Say Anything Blog.com
Senator Hoeven’s office announced $66,000 in Federal money that will be directed to the Souris Basin Planning Council. The grant will be used to develop a strategy to diversify the economy in the region. — Officials News Release, Senator Hoeven — WASHINGTON – Senator John Hoeven, who serves on the U.S. Senate Appropriations Committee, today
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The economic impact Minot Air Force Base delivers to Minot can be calculated, but it’s importance to the community can’t be overstated. And one of the annual tasks the Air Force takes on is estimating their annual contribution to the local economy. It’s a significant number, close to $600 million. The news release on the
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The province of Manitoba is looking to kickstart the brewing and distilling industries. So much so, they’re starting a loan program to help new start-ups purchase equipment.
Read & Share sourced from: Winnipeg Free Press