Faribault-Small Town Pride Video.
Faribault - Small Town Pride Big City Opportunities Brochure (pdf) — Large File: 2MB
Official Economic Development Authority Web site (includes the Development Toolbox)
Economic Development Authority (Boards & Commissions page)
Economic Development Programs
- Job Opportunity Building Zones (JOBZ)
- Minnesota's Job Opportunity Building Zones (JOBZ) Minnesota Governor Pawlenty's initiative to stimulate economic development activity in Greater Minnesota by providing local and state tax exemptions to new and expanding businesses. Use the JOBZ link to learn more about the benefits of JOBZ. More information can be found at Minnesota Properties Community Profiles.
- Economic Development Revolving Loan Program
- The Economic Development Revolving Loan Program provides low interest loans and grants to downtown property owners wishing to rehabilitate substandard commercial buildings and to renovate or restore the exterior of their commercial structures. Program priorities are the renovation of historically or architecturally significant properties and storefronts, life and safety improvements, and the repair or replacement of upper level windows. Program activity is limited to downtown Faribault with priority given to those commercial properties abutting Central Avenue.
- Industrial Development Loan Program
- The Industrial Development Loan Program provides low interest loans to for profit entities in support of private efforts to establish, expand or relocate new and existing industries within the community. Program priorities are value added industrial projects, which provide for the diversification of the local economy, the creation or retention of quality employment opportunities, and the expansion of the property tax base.
- SCDP Revolving Fund Program
- Minnesota Investment Fund
- The Minnesota Investment Fund provides low interest loans to establish, expand or relocate new and existing industries within the community. Program priorities are value added industrial projects that provide for the diversification of the local economy, the creation or retention of quality employment opportunities, and the expansion of the property tax base. To be eligible, a project must result in significant job creation. Participating firms must pay a minimum of $10.00 per hour for all new jobs created. Roughly $6,000 per job is available to qualifying projects and a minimum $12.00 per hour for all jobs created. Roughly $10,000, per job is available to qualified projects.
- Tax Increment Financing and Tax Abatement
- TIF Policy Guidelines (PDF)