02-21-96 - Laserfiche WebLink

Home Browse Search

COMMUNITY PROFILES Iq • 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 manage- ment assistance programs. In addition the City will provide business with the specific site information necessary to en- courage development within our community. Export Assistance The Minnesota Department of Trade& Economic Development offers a vast array of assistance to companies interested in Small Business 504 Loans entering the foreign market.Assistance includes export loan guarantee,training seminars, personal advise from interna- �ong—term, below—market, tional trade experts,trade missions,trade shows and an ex— subordinated financing may tensive library of export data. be available through SBA 504 Loan Program for up to 40%of project costs, between $50,000 and Job Training Assistance $750,000. Several programs are in place to provide subsidies to em— To qualify a business must ployers for the training costs of new employees. They are as be existing,for—profit, "user" follows: Minnesota Job Skills Partnership, Minnesota Employ— business with a net worth of ment and Economic Development (MEED), Job Training not more than $6 million Partnership Act (JTPA), Targeted Jobs Tax Credit(TJTC) and net profits after taxes and Project JOBS. 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.