A global food supplier is doubling down on Minot. AGT Foods, known for turning lentils and chickpeas into gluten-free pasta, is planning a $12.7 million expansion of its local facility. The MAGIC Fund Committee just gave early approval to a $269,000 forgivable[...]
Tag: MAGIC Fund
Curio |
Mandan to begin gift card program to boost Memorial Highway businesses during construction
With a $119 million highway project underway, Mandan businesses along the Strip are bracing for a bumpy few years — but help is on the way. The city is launching a new gift card program in late May, offering residents a 25%[...]
News |
MAGIC Fund committee supports loan fund request
Minot’s business community could see another boost as city leaders consider adding $250,000 to the Business Accelerator Fund (BAF). Administered by Souris Basin Planning Council, the fund helps local businesses secure state-backed interest buydowns, unlocking millions in additional investment. With demand holding[...]
News |
Committee ponders role of MAGIC Fund Screening Committee
The MAGIC Fund Screening Committee was once the first checkpoint for economic development proposals in Minot. Now, it barely meets. Under revised guidelines, the Minot Area Chamber EDC (MACEDC) has taken over much of the early review process, leaving some wondering whether[...]
News |
Souris Basin Planning Council’s Business Accelerator Fund recommended for refill
A little economic development tool with big impacts is recommended for a refill. Souris Basin Planning Council manages the Business Accelerator Fund; it delivers a local match for participation in the Bank of North Dakota’s Flex PACE program to buy down interest[...]
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News |
Trinity rejects MAGIC Fund loan
Toward the end of last year, Trinity Health made a request to the MAGIC Fund, the City of Minot’s economic development resource, for proposed improvements to the soon-to-open new hospital. City Council amended the request for a grant and converted it to[...]
News |
City Council Agenda, December 19 2022
Minot City Council will meet Monday, December 19, at 5:30 pm to consider the agenda attached below. Items of note include the disposition of Home Sweet Home, hiring EAPC Architects to provide a facility study for the police department reuse of the[...]
Commentary |
And for our next magic trick…
Magic. How do you define it? It’s a more important Minot question than you might guess. First, we are the ‘Magic’ City. When the Great Northern Railroad finished its 1886 construction season and stopped for the winter, it stopped in our valley.[...]
Commentary |
Evidence for a New Economic Development Model?
Economic growth, economic diversity, these are buzzwords in North Dakota and in Minot right now. The City’s NDR application talks about it; our consultant on the project, CDM Smith, even has a $300,000 budget to create an ‘Economic Development Strategic Plan for[...]
Commentary |
Questions & Concerns With Handing Over $375,000 to Anyone
First and foremost, I applaud Stephanie Hoffart and her team at MADC for developing a prospect as exciting as Skyscopes. Between the Air Force, the oil and energy industries, and the ag business, the Unmanned Aerial System (UAS) industry is a great[...]
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News |
It’s Open! Renaissance Parking Structure Ready for Cars
One of Minot’s embattled downtown parking garages is now open for cars. City leaders and project managers gathered Thursday afternoon to officially cut the ribbon. Work will continue around the structure as the commercial and residential space is built out. [...]Read More...[...]
News |
Manitoba: Loan program announced for breweries and distilleries
The province of Manitoba is looking to kickstart the brewing and distilling industries. So much so, they’re starting a loan program to help new start-ups purchase equipment. [...]Read More... from Manitoba: Loan program announced for breweries and distilleries
News |
Fargo to revisit city’s tax break policy
These programs justify themselves under the shield of economic development, and there are examples where they are effective at generating redevelopment. But in Fargo, it seems the City Commission has been stretching framework to fit project. [...]Read More... from Fargo to revisit city’s[...]
News |
MADC Pulls MAGIC Fund Request for Downtown Businesses
The Minot Area Development Corporation has pulled its request for a financial relief program intended for downtown merchants and property owners. MADC had requested a $500,000 program that would have provided interest buydowns for qualifying downtown merchants; they have been asked by[...]
News |
Wells Fargo Passes on Cypress Development Bailout Package, Parking Garages Back in Limbo
A portion of the City’s recently approved bailout money for the downtown parking garage developer is in question after Wells Fargo chose not to loan money on a complimentary portion of the finance package. KX News has the story. [...]Read More... from[...]
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News |
Small-business Savvy: Building the Local Small-business Community
When it comes to economic development, it's the small businesses that deliver the most sustainable impact through the ups and downs of the economy. [...]Read More... from Small-business Savvy: Building the Local Small-business Community