The PACE Fund helps communities expand their economic base. The program has two elements: participation by BND with a local lender in a community-based loan and participation by the PACE Fund with the local community to reduce the borrower’s interest rate.
An internship is an opportunity offered by an employer to potential employees, usually undergraduate students, to work at a business for a fixed, limited period of time. Internships may be full or part time, and are usually offered for the duration of a school semester or during the summer months.
The Planning Division administers the City’s two downtown programs – the Renaissance Zone program and the CORE Incentive Grant program – and serves as staff support for the Renaissance Zone Authority. The Division also administers the downtown design review process.
The Bismarck SBDC, in collaboration with its resource partners, provides assistance to entrepreneurs, and sponsors workshops, seminars, and conferences aimed at providing continuing education in the latest business techniques.
Flex PACE allows communities the ability to provide assistance to businesses that do not meet the primary sector definition of PACE. In addition to this program, specific Flex PACE options have been developed for child care facilities and affordable housing projects. No job creation is required for any Flex PACE Program options.
Most of the state's economic development tools and incentives are targeted toward primary sector businesses. In fact, legislation for several of these incentives specifies that a business must be 'certified' as a primary sector business by the director of the Economic Development & Finance Division of the North Dakota Department of Commerce. Certification does not guarantee receipt of any incentive, but being certified as a primary sector business can be an important first step in the process.
The North Dakota Development Fund coordinates efforts between all the sources of financing, the business and the community. Any project considered for this financing must be feasible and have a reasonable chance of succeeding.