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Monday, May 25, 2015

"Grow North" Program in Minneapolis Offers $200,000 Incentives to Businesses

"Grow North" Program in Minneapolis Offers $200,000 Incentives to Businesses
North Minneapolis is opening their doors to new businesses and existing businesses who want to expand by offering a very tantalizing incentive. The Grow North program, introduced last year, offers up to $200,000 in a forgivable loan to businesses who add jobs to North Minneapolis. But that's not all.

What the incentive package includes

In addition to a $200,000 forgivable loan, businesses can also receive homeowner assistance for employees who purchase homes in North Minneapolis.

Details:

  • For-profit businesses are eligible to apply for a forgivable loan
  • Loans are forgivable at the rate of $5,000 for each employee the company hires who are residents of North Minneapolis
  • Qualifying businesses must bring at least 40 jobs to North Minneapolis
The business incentives are offered through Minneapolis Community Planning and Economic Development to encourage more growth among businesses and the creation of jobs for communities in North Minneapolis.

To find out more, visit www.startribune.com/unison-s-north-minneapolis-expansion-extends-to-neighborhood/303935281/
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