Local Business Resources
Traill County Economic Development Commission
The Traill County Economic Development Commission can provide financial assistance to new and expanding businesses in Traill County. If you have a business idea that you need help with, please fill out a Business Assistance Application. Return it to TCEDC or contact our office at 701.636.4746.
Hatton Economic Development Corporation
The Hatton Economic Development Corporation has been active in business development and retention in Hatton since its founding in 1989. Organized under the Hatton Community Club, Hatton Economic Development Corporation provides small-business loans to assist new and existing businesses and supports the continued success of the School-to-Work program at Hatton Eielson School.
Hillsboro Economic Development Corporation
Hillsboro Economic Development Corporation works to provide opportunities to residents and grow the community by attracting new residents, and promoting business development and growth. Located along Interstate 29 between two of North Dakota’s largest cities, Hillsboro is ideal for businesses and residents. Plus, with Hillsboro hospitality at every turn, Hillsboro is the hometown you’ve been looking for.
Mayville-Portland Economic Development
Business Assistance Application
The Mayville-Portland Economic Development Corporation works collaboratively with residents and local and state organizations to explore opportunities to build on existing strengths, and capture new opportunities for a better community. The many possibilities in Mayville-Portland keep residents happy and businesses growing.
Tax & Permitting Incentives
Property tax exemptions can be granted to new and expanding businesses; sales and property tax arrangements may be negotiated.
Regional Business Resources
Workforce Training Programs TrainND
These programs provide content customized for each business and industry, and are designed to match the needs of employees.
Lake Agassiz Regional Development Corporation
Small Business Administration – Microloan Program
The Small Business Administration first awarded funds to LARDC in 1993 to establish the Microloan Program. The purpose of the fund is to assist startup, newly established and all other small businesses to obtain short-term, fixed-rate financing. Eligible small businesses located throughout North Dakota can apply for a Microloan. Loan proceeds may be used for working capital, inventory and equipment needs, with a maximum loan amount of $35,000.
USDA Rural Development – Intermediary Relending Program
USDA Rural Development first awarded funds to LARDC in 1993 to establish an Intermediary Relending Program (IRP). Since then, LARDC received additional funding in 1995 and 2001. The purpose of the IRP program is to encourage and support business development and expansion in the rural portions of the Lake Agassiz service area (excluding the city of Fargo). Businesses located in Region V of North Dakota, which includes the counties of Cass, Ransom, Richland, Sargent, Steele and Traill, are eligible for this program. Loan proceeds can be used for real estate, fixed assets, working capital and inventory, with a maximum loan amount of $150,000.
State Business Resources
Bank of North Dakota
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 leading financial institution.
Business Development Program (BND)
The Business Development Loan Program through BND (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.
The 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, BND will participate in loans to financially strong companies and provide interest rates at some of the lowest in the nation.
North Dakota Development Fund
The North Dakota Economic Development and Finance Fund is designed to provide flexible “gap” financing through loan and equity investments to new or expanding primary-sector businesses in North Dakota.
The Mayville Renaissance Zone is a development program to help rebuild Mayville’s downtown area in an effort to maintain historic attractiveness.
he Hillsboro Renaissance Zone provides tax incentives for building or improving both primary residential and commercial property within the Renaissance Zone. The Hillsboro Renaissance Zone Authority, Hillsboro City Commission and North Dakota Department of Commerce must approve all eligible rehabilitation projects, new construction projects and leases of property within the Renaissance Zone before those projects begin.
Workforce Training Programs
Job Service North Dakota
Job Service North Dakota administers a number of federally funded workforce training programs and two North Dakota state-funded training programs. The types of training that 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. In addition, Traill County is home to Mayville State University, which offers training programs and certifications for numerous industries. TCEDC can provide scholarships and/or grants to expanding companies to be used for employee training.