Financial Incentives

Posted on:
Jun 09, 2020

Economic Development Energy Incentive Program Policy

The City of Elk River Economic Development Authority (EDA) and the City of Elk River (City) maintain a goal to stimulate private sector investment for new job creation and tax base growth. The Energy Incentive Program offers a savings to qualified applicants on their Elk River Municipal Utilities (ERMU) electric bills for up to two years.

Category: Business, Business Incentives

Posted on:
Mar 21, 2019

Tax Increment Financing Policy

The purpose of this policy is to ensure development receiving Tax Increment Financing (TIF) is consistent with the long-term city Comprehensive Plan, Strategic Plan, Mississippi Connections Plan and/or most recent Housing Study. This is a guide for processing and review of TIF applications. The City of Elk River shall utilize TIF to encourage desirable development or redevelopment that would not otherwise occur but for TIF...

Category: Business Incentives

Posted on:
Apr 20, 2017

Business Microloan Fund

The Economic Development Authority for the city of Elk River (EDA) recognizes the need to stimulate private sector investment into manufacturing and certain commercial facilities and equipment in order to create new jobs, boost productivity and retain existing jobs for local residents. Additionally, the need exists to encourage investment in the expansion and/or rehabilitation of commercial and retail buildings in order to maintain the economic...

Category: Business Incentives

Posted on:
Apr 20, 2017

Job Incentive Microloan

The purpose of the RLF is to provide financial and technical assistance for the creation and retention of new employment. These objectives may be accomplished through the following means: Create/retain permanent private sector jobs to fuel above-average economic growth. Investment in technology and equipment that increase productivity and provide for higher wages; Leverage of private investment to ensure economic renewal and competitiveness; Increase...

Category: Business Incentives

Posted on:
Apr 20, 2017

Tax Abatement

The purpose of this policy is to establish the city of Elk River’s position relating to the use of Tax Abatement for private development above and beyond the requirements and limitations set forth by State Law. This policy shall be used as a guide in the processing and review of applications requesting Tax Abatement assistance. The fundamental purpose of providing Tax Abatement in Elk River...

Category: Business Incentives