Business Toolbox

Tax Increment Financing

The City of Elk River may utilize Tax financing to encourage desirable development or redevelopment that would not otherwise occur but for TIF.

Business Microloans

Provides low interest, long-term (i.e. greater than one year) loans as incentives for new industrial and commercial development within the City of Elk River and to encourage commercial and retail business owners in the Downtown District to rehabilitate their existing buildings.

Tax Abatement

Provides incentives for desirable development or redevelopment that would not otherwise occur but-for the assistance provided through the Tax Abatement.

Job Incentive Microloan

Provides financial and technical assistance for the creation and retention of new employment in Elk River

Energy Incentive Program

The Energy Incentive Program offers a savings to qualified applicants on their Elk River Municipal Utilities (ERMU) electric bills for up to two years.

PACE

Property-Assessed Clean Energy (PACE) is a way to finance energy efficiency and renewable energy projects for new or existing buildings of commercial, industrial, nonprofit, and multihousing property owners.

manufacturing