Incentives for job creation

Job growth is important for every community. Increasing the proportion of quality jobs available is essential for long-term economic growth. But expanding a business requires sizeable investments.

That’s why the Elk River Economic Development Authority provides low interest loans of up to $200,000 of secondary financing to attract new businesses and assist existing businesses with expansion. The Jobs Incentive Program is tied to the creation of high paying, quality jobs for the city.

The loan can be used for a variety of expenses, including building construction, land acquisition, machinery, exterior renovation and more.