Development Assistance

The City of Faribault understans the importance of making fiscally responsible decisions, and the role financial and tax incentives have in the location decision and selection process. Faribault is committed to providing an attractive financial incentive package - utilizing local, regional, state, and federal resources to help projects which meet the business subsidy requirements. 
  1. Local Revolving Loans
  2. Tax Abatement
  3. State Programs
There are a number of economic development partners, including the City of Faribault, who offer revolving loans for development projects. The economic development partners who utilize revolving loan incentives as a tool for gap financing, each with the own terms and limits, include: City of Faribault Economic Development Authority (EDA), Rice County, Faribault Industrial Corporation, and Southern Minnesota Initiative Foundation (SMIF).

City of Faribault Economic Development Authority: Application + Guidelines