Business Incentives

• JOBZ tax incentives through 2015 include no corporate income tax, no sales tax, no capital gains tax, and approximately a 55% reduction in property taxes for new building value of $500,000 or more in 476 acre zone. Non-retail commercial or industrial business must create at least three new fulltime jobs paying at least $10 an hour.
  
  
• Property Tax Exemptions for up to five years and negotiated "payments in lieu of taxes" are available for all types of businesses that increase building value by more than $150,000.

• Income Tax Credit
  A refundable state income tax credit equal to 5% of the completed new building value is available in a specific 400-acre target area.
  

• Disparity Reduction Credit writes down all commercial/industrial property to a net tax of 2.3% of estimated market value.

• Border City Enterprise Zone Program provides an income tax credit based on a percentage of the business's annual workers compensation expense. Applications are accepted each July.

• Moorhead Community Loan Program can fill in the gap remaining beyond conventional bank financing for some types of businesses. Loans are available for up to $50,000 for land and building, machinery and equipment, or working capital. Term is typically no longer than 7 years. Interest rate varies in the range of 4-8%.

• Job Training
  Grants are available from Minnesota state and regional sources to help pay for training of employees.

For more info on all programs, contact the Economic Development Office or call (218) 299-5442, toll free: (877) 833-6667.