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North Dakota Incentives
Community Development Block Grant
Description:
The North Dakota Community Development Block Grant (CDBG) program provides financial assistance, in the form of matching grants, for community development activities. These funds are block granted to states from the Department of Housing and Urban Development (HUD), and in turn, the State has designated the eight Regional Councils to recommend projects for potential funding.
Eligibility:
Local units of government (i.e. incorporated cities and counties) are the only eligible applicants for CDBG funding.
Contact the Souris Basin Planning Council at 701-839-6641.
Bank of North Dakota and Venture Capital
The Bank of North Dakota (BND) is the only state owned and operated bank in the nation. It offers economic and industrial development financing instruments that are not found elsewhere. Although the bank does not make direct loans to businesses, the loan programs can be accessed through participation with a lead financial institution.
Contact the Bank of North Dakota at 701-328-5600.
Department of Commerce - Economic Development & Finance Division
Contact the North Dakota Department of Commerce at 866-432-5682.
The Department of Commerce provides additional assistance through a number of programs.
North Dakota Development Fund (NDDF)
NDDF is a non-profit development corporation with the purpose of providing flexible "gap financing" for start-up, second-and-third-stage growth companies.
- Borrower must be a North Dakota primary sector business
- Investments include equity positions, loans, real estate, partnerships and other innovative financing mechanisms
- Businesses may receive up to $300,000, but not more than half of the project' s total capitalization needs
Regional Rural Development Revolving Loan Fund
The Rural Fund is a pool of funds available for rural areas of North Dakota. Dollars are allocated equally among the eight economic planning regions.
- Projects must be located more than five (5) miles outside the city limits of any North Dakota city with a minimum population of 8,000
- Investments include equity position, loans, real estate, partnerships and other innovative financing mechanisms
- Businesses may receive up to $300,000, but not more than half of the project' s total capitalization needs
Agricultural Products Utilization Commission (APUC)
APUC provides funding for the research, development, and marketing of value-added agricultural products. Eligible projects/studies include:
- Development and marketing of new and/or expanded uses or technologies for processing North Dakota agricultural products
- Industrial and other non-food products and processes utilizing agricultural output
- Food, feed, and fiber products and uses, which are innovative and add to the value of agricultural products
Mini grants up to $5,000 are available for on-farm, value-added enterprises.
New Action Grants
- Monies up to $1,000 awarded to new and/or small businesses that have limited research and development funds available to them
- Intended to encourage the use of outside expertise to improve a business and can be used to gain knowledge, study ideas or concepts, or acquire patent protection
- Promote entrepreneurship and help primary sector businesses grow
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