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NORTH DAKOTA Fast Facts

• Population (2006): 635,867
• Largest Cities (2006): Fargo, 90,056; Bismarck, 58,333; Grand Forks, 50,372; Minot, 34,745; West Fargo, 21,508
• Targeted Industries: value added agriculture, energy, manufacturing, technology–based business, and tourism

• Key Incentives: Partnership in Assisting Community Expansion (PACE), North Dakota Development Fund, Workforce 20/20, Sales and Use Tax Exemptions

NORTH DAKOTA State Incentives

The Partnership in Assisting Community Expansion (PACE) fund is provided through the Bank of North Dakota, the only state-owned bank in the nation. This interest buy-down loan program is available to new primary-sector businesses including manufacturing, data processing, communications, telecommunications, and targeted service industries. Funds are used to purchase real property and equipment and certain working capital requirements, and can't be used to refinance existing debt.

Primary-sector businesses can also secure financial assistance through the North Dakota Development Fund. The fund is administered through the North Dakota Department of Commerce and provides gap financing not available from other, more traditional sources. Funds-available through direct loans, participation loans, subordinated debt, and equity investments-can be used for real estate, equipment, and working capital.

The North Dakota New Jobs Training Program provides a mechanism for businesses to secure funding to help offset the cost of training new employees for business expansion and/or startup. Administered by Job Service North Dakota, the program provides for the capture of the state income tax withholding generated from the newly-created jobs. The new jobs must pay a minimum of $7.50 per hour plus benefits within the first 12 months of employment.

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