PROGRAMS
Chisago County HRA- EDA’s tag-line is “A Natural Resource for Business” and we are here to be a resource for your business.
Entrepreneurs and business are an essential part of Chisago County. We understand the importance of having resources available for starting and expanding a business. Everyone who has a new idea or is interested in growing a business is welcome to contact the Chisago County HRA-EDA to learn more about the many programs offered in Chisago County through the HRA-EDA and our partners. We are versed in the resources provided here and many more resources that are not listed. We would love to meet you and assist you in your efforts to flourish within our community.
TAX INCREMENT FINANCING
(TIF) AND TAX ABATEMENT
MN Department of Employment and Economic Developments (DEED) program to encourage job creation and capital investment in new or expanding qualified Tax Increment Financing (TIF) or Tax Abatement is generated from the new taxes as a result of an expansion, major rehabilitation or new construction. A portion of the taxes maybe “rebated back” to qualifying developments. Most often TIF is administered at the city level. The County’s policy and application may be found here.
BUSINESS LOAN
PROGRAMS
There are several lenders that provide nontraditional lending for business in Chisago County. Following are some of the options available for businesses. Staff at the HRA-EDA are ready to help you put together a financial package. Please contact us to assist you in determining the right programs for your business.
TAX INCREMENT FINANCING
(TIF) AND TAX ABATEMENT
MN Department of Employment and Economic Developments (DEED) program to encourage job creation and capital investment in new or expanding qualified Tax Increment Financing (TIF) or Tax Abatement is generated from the new taxes as a result of an expansion, major rehabilitation or new construction. A portion of the taxes maybe “rebated back” to qualifying developments. Most often TIF is administered at the city level. The County’s policy and application may be found here.
INDUSTRIAL FORGIVABLE LOAN PROGRAM
The Chisago County HRA-EDA created this program to attract businesses to Chisago County, build a new facility and create high-quality jobs. Businesses are able to receive up to $100,000. The funding amount will depend on jobs created, wages of those jobs and capital/building investment. After three years, if the business satisfies the requirements the loan will be forgiven and no repayment is expected.
BUSINESS LOAN
PROGRAMS
There are several lenders that provide nontraditional lending for business in Chisago County. Following are some of the options available for businesses. Staff at the HRA-EDA are ready to help you put together a financial package. Please contact us to assist you in determining the right programs for your business.
