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Economic Development & Finance (ED&F), a division of the ND Department of Commerce, facilitates the creation of new wealth through the start-up, retention and expansion of what is known as "base or primary-sector" businesses. These businesses create new wealth by selling a majority of their products or services to out-of-state customers.
For more information: http://www.growingnd.com or 701-328-5300
| ED&F includes the following Programs: |
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Agricultural Products Utilization Commission (APUC),
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APUC creates wealth and jobs through the development of new and expanded uses of North Dakota's agricultural products. This is accomplished through the administration of a grant program.
Business Development,
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Business Development assists state, regional and local efforts to create successful investment outcomes through targeted marketing efforts and by serving the needs of existing and start-up businesses that generate new wealth for the state.
Center for Technology & Business,
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This program, targeted to women and minorities, provides technical assistance to entrepreneurs who are starting and/or growing a business in the state. ED&F, the Small Business Administration (SBA) and the Bank of North Dakota collectively fund this program.
Development Fund,
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This fund provides flexible "gap" financing through loans and equity investments for "primary-sector" businesses interested in expanding operations already in North Dakota or relocating to the state. The Development Fund also administers the Regional Revolving Loan Fund, which provides funding for projects located in communities of 8,000 or less or located 5 miles outside city limits of a population of 8,000 or more.
Dakota Manufacturing Extension Partnership,
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The Dakota Manufacturing Extension Partnership (Dakota MEP) is the preferred manufacturing partner. Dakota MEP partners with businesses to help them;
- Develop and execute strategic plans
- Improve profit margins and cash flow
- Develop more profitable sales
- Bring new products to market
- Improve customer service
- Improve employee productivity
- Develop employee skills - retain employees
- Reduce costs (i.e. inventory, labor, materials, maintenance)
- Reduce defects and improve quality
- Invest (or avoid investment) in plant and equipment
The Dakota MEP is part of a unique, national public/private partnership with local offices in North and South Dakota representing a national system dedicated to the competitiveness, productivity and profitability of U.S. based manufacturing.
North Dakota Trade Office,
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Facilitate trade in International Markets, develop a plan to collaborate with trade related agencies and offer technical assistance to our states exporters.
Research,
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Research provides services to support economic development decision-making. It utilizes electronic and human resources to access information related to state capacity, competitive position, industry trends, due diligence and business development.
Innovate ND
The goal of Innovate ND is to launch new businesses within North Dakota. It is a comprehensive program of entrepreneur education and follow-up assistance that incorporates web-based entrepreneur and financial education, an entrepreneurial toolkit, innovative business plan competition, consulting, coaching and entrepreneur assistance. The program is open to all North Dakotans, and anyone who wishes to start a business in ND, including students. For a $100 entry fee, innovating entrepreneurs gain access to the online community and services. For more information on the program, go to http://www.innovatend.com or email
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| CONTACT: |
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Paul Lucy, Director
1600 Century Avenue, Suite 2
Bismarck, ND 58503
701-328-5300
Fax: 701-328-5320
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http://www.growingnd.com |
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