Photo by: Bob Jones- CLC Student
The Staples Economic Development Authority works hard to attract new businesses and assist existing businesses with their expansion needs, utilizing various financing and incentive programs.
The City of Staples has more than 200 acres included in the Minnesota Department of Employment and Economic Development’s Job Opportunity Building Zones (JOBZ) program. These JOB Zones are a tool used to stimulate business activity in Staples. These tax incentives help new and expanding businesses lower their overall costs and facilitate growth within the community. Tax Increment Financing and Tax Abatement are also tools used to assist businesses.
More traditional financing is provided through a network of commercial lenders in the community. Local economic development entities such as the Staples Economic Development Authority, Todd County Development Corporation, North Central Economic Development Association, Todd Wadena Electric Cooperative and the Initiative Foundation also provide Revolving Loan Fund dollars to businesses.
The Business and Industry Center at Central Lakes College can also provide information on programs and services available to new and existing businesses.