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7/1 Y • BUSINESS ASSISTANCE Tax Increment Financing Local Tax Increment Financing Assistance may be available to qualified development projects for certain public costs of development such as land acquisition, site preparation, water and sewer hookups and stormwater discharge ponding. Site Assistance The Arden Hills Economic Development Committee can help streamline dealings with government agencies and direct business to appropriate financial, labor training and management assistance programs. In addition the City will provide business with the specific site information necessary to encourage development within our community. Export Assistance The Minnesota Department of Trade&Economic Development offers a vast array of assistance to companies interested in entering the foreign market. Assistance includes export loan guarantee,training seminars,personal advise from international trade experts,trade missions, • trade shows and an extensive library of export data. Job Training Assistance Several programs are in place to provide subsidies to employers for the training costs of new employees. They are as follows: Minnesota Job Skills Partnership, Minnesota Employment and Economic Development (MEED), Job Training Partnership Act (JTPA), Targeted Jobs Tax Credit (TJTC) and Project JOBS. Small Business 504 Loans Long-term, below-market, subordinated financing may be available through SBA 504 Loan Program for up to 40% of project costs, between & $50,000 and $750,000. To qualify, a business must be existing, for-profit, "user" business with a net worth of not more than $6 million and net profits after taxes averaging less than $2 million. Loans can be used for land acquisition,construction or rehabilitation of a building,development costs, and acquisition of qualified machinery and equipment.