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Development Fund Awards $337,000 to Communities
North Dakota Ag Connection - 07/11/2019

The North Dakota Development Fund, a funding program within the North Dakota Department of Commerce, approved funding for three projects totaling $337,000 at its board meeting.

The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible funding through debt and equity investments for new or expanding North Dakota primary sector businesses. The fund also manages a daycare loan program created by the North Dakota Legislation in 2009.

The following requests were approved:

MainSaver North Central, Inc. (Jamestown) was approved $150,000 in funding for working capital needs resulting from the company's planned expansion in the North Central United States. The company manufactures and installs the technology for the lining of watermain pipes.

Preferred Partner Community, LLC (Fargo) was approved $150,000 in funding to assist with working capital needs. The company developed an application to aid when people move to new homes.

The Learning Circle, Inc. (Casselton) was approved $37,000 in funding to assist with the purchase of an existing daycare. The business provides daycare services in the Casselton area.

The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.

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