A Group of Citizens Committed to:

Z

Providing assistance to new and existing businesses

Z
Coordinating efforts of other groups and individuals for the economic benefit of the community
Z
Developing methods of obtaining input from consumers
Z
Identifying and working on specific needs in the community
Z
Developing and coordinating education efforts

Meetings & Minutes:

Next Meeting:

Coming soon.  Email [email protected] for an agenda.

Meeting Minutes:

Coming soon.

Board of Directors:

President: Dorothy Becker

Vice-President: Nicole Sott

Student Director: Samantha Salazar

Office Coordinator: Leah Tanska

Director: Kevin Pages

Director: Dustin Laufer

Director: Michelle Gaylord

Director: Alex Thompson

Director: Rochelle Shirek

Director: Bruce Hagen

Financial Incentive Programs

Purpose:

  1. To encourage the start-up & expansion of manufacturing, service, retail & other businesses in Adams County.
  2. To provide employment to residents of the Adams County area.

Eligibility:

  1. New or expanding businesses including manufacturing, service & retail located in Adams County.
  2. Applications will be reviewed based upon the ability of the business to fulfill the program’s purpose & the availability of funds.
  3. If an application is received from a business that has a direct competitor in the community served, written consent must be obtained from direct competitors or approval by a 2/3 affirmative vote of the total board membership.

Interest Subsidy

Description:  The program provides for the “buydown” of interest on new or existing business loans at local financial institutions.

Guidelines: Interest will be subsidized to the current average passbook savings rate (local), not less than 2.5 %.  Limited to a maximum of $1,000.00/yearly. To be paid quarterly over a 3 year period.

Application Process: Submit the following with a request in writing: (1) Amount of subsidy requested, (2) Number of employees, (3) Copy of loan documents.  You must also provide a copy of the Business Plan.

Rent Subsidy

Purpose: To improve the appearance of Main Street and other high traffic areas within the County by occupying vacant buildings.

Description: This program will provide cash subsidy of monthly rental expense.

Guidelines: Cash subsidy of up to 40% of the monthly rental expense but limited to $1,000.00/yearly.  Subsidy available for 3 years paid quarterly.

Application Process: Submit the following with a request in writing: (1) Building to be rented, (2) Amount of subsidy requested, (3) Relationship to lessor of property, (4) Number of employees.  You must also provide a copy of the Business Plan.

Loan Collateral

Description:  This program is designed to provide additional loan collateral for new or expanding businesses.

Guidelines:  Collateral can be set aside as a CD in a participating financial institution for up to 3 years. Extension of the 3 year period will be reviewed as needed. 

Application Process: Application should be initiated in partnership with a local financial institution. Submit the following with a request in writing: (1) Amount of collateral requested, (2) Number of employees, (3) Business Plan, (4) Loan Documents and (5) Application review based on plan feasibility, employment impact and reasonable rate of interest on base loan.

One-Time Building Improvement

Description: Cash match for leasehold improvements on existing vacant buildings.

Guidelines: One-time cash match for building improvements to a maximum of $3000.00 to be paid quarterly over a 3-year period.

Application Process: Submit the following with a request in writing: (1) Building to be rented, (2) Amount of subsidy requested, (3) Relationship to lessor of property and (4) Number of employees.  You must also provide a copy of the Business Plan.

Other Assistance Provided:

  • Local Business & Industry Data
  • Development of Marketing & Business Plans
  • Educational Materials
  • Access to State, Federal & Regional Development Programs

Regional Business Development Centers

Roosevelt-Custer Regional Council

13 East Divide • Bowman, ND 58633

North Dakota Small Business Development Center

13 1/2 East Divide St • Bowman, ND 58623