Minot, ND

MINOT, ND

Demographics

Key Facts

Education

Employment

Workforce

Age Stratifaction

STATE OF NORTH DAKOTA

Minot Area Growth through Investment and Cooperation (MAGIC Fund)

The MAGIC Fund is a local economic development financial incentive funded by a 1% sales tax, managed through the city of Minot.
The fund is projected to generate over $2 million in funding per year.
To-date, the MAGIC fund has assisted more than 200 projects with more than $33 million in funding.
Minot Area Development Cooperation Website

Community Development Loan Fund

Provides "gap" financing to primary, retail, service sector, and new and expanding businesses by acting as a leverage tool for private, public and local investment.
Eligible loans include, but are not limited to, the acquisition and/or improvement of land and buildings, the purchase of equipment, fixtures, inventory, and limited working capital.

Workforce Training Incentives

North Dakota New Jobs Training Program
Primary-sector businesses and industries can secure funding to help offset the cost of training new employees for expansion and/or startup.
Funding for this program can come from a loan, grant, or other self-financing options.
Funds under the New Jobs Training Program are then made available through the capture of state income tax withholding generated from the new, permanent, full-time positions that are created.
To access this funding, a new employer in North Dakota must create a minimum of five new jobs.
To access this funding, a current expanding business in North Dakota must add at least one more job to their base employment.

North Dakota Tax Incentives and Exemptions
Please see the North Dakota Tax Incentive for Businesses Guide here.