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The City of Spring Grove and it's Economic Development Authority
is committed to helping new, relocating, or expanding businesses
in the area.
We can assist you in looking for building space or a location.
We also can aid your effort to find funding support. Small business
loans are available through the local Jennings Bank or through
the Minnesota Small Business Program, and SBA. Additional gap
financing is available from the Spring Grove EDA, which also
works closely with the City Council when TIF or Tax Abatement
is needed.
Business Assistance is available through Job Opportunity Building
Zones (JOBZ). This is is a new and exciting tool to stimulate
business activity in Greater Minnesota. Eligible businesses
in a zone will operate in an environment nearly free of state
and local taxes. These tax incentives will help new and expanding
companies lower their overall costs and facilitate their growth.
To qualify for JOBZ tax exemptions, a business must start-up in the zone, relocate from outside the zone
or expand. Companies relocating from another Minnesota site qualify by increasing employment by 20 percent
within the first year or making capital investment of at least 10 percent of gross revenues. In addition,
businesses must also meet local business assistance goals to qualify for tax exemptions.
More JOBZ-related information is available at www.positivelyminnesota.com.
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