Programs and Incentives
Hillsboro Renaissance Zone
The Hillsboro Renaissance Zone provides tax incentives for building or improving both primary residential and commercial property within the Renaissance Zone. An application for Renaissance Zone tax incentives must be approved before improvements begin.The Hillsboro Renaissance Zone Authority, Hillsboro City Commission, and the North Dakota Department of Commerce must approve all eligible rehabilitation, new construction projects, and leases of property within the Reanissance Zone before they begin.
To apply for a Renaissance Zone project, please fill out an application. You can download it here: Hillsboro Renaissance Zone Application
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 follow the link above and fill out the Business Assistance Application. Return it to TCEDC or contact our office at 701.636.4746.
Hillsboro Economic Development Commission
Hillsboro Economic Development Corporation works to provide opportunities to businesses and grow the community by attracting new business development and growth. Located along Interstate 29 between two of North Dakota’s largest cities, Hillsboro is ideal for businesses and residents.
Tax & Permitting Incentives
Property tax exemptions can be granted to new and expanding businesses; sales & property tax arrangements may be negotiated. Contact the City of Hillsboro at 701.636.4620 for more information on property tax exemptions.
Workforce Training Programs TrainND
These programs provide content customized for each business and industry, and 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 start-up, newly established, and all other small businesses obtain short-term, fixed-rate financing. Eligible small businesses located throughout North Dakota may 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.
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.http://www.banknd.nd.gov/lending_services/business_financing_programs/index.html
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 (BND)
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
A North Dakota Economic Development and Finance Fund designed to provide flexible “gap” financing through loan and equity investments to new or expanding primary-sector businesses in North Dakota.
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. Traill County Economic Development Commission can provide scholarships and/or grants to expanding companies to be utilized for employee training.