Cost-Effective Operating Environment
It costs less to do business here. When compared to the average cost of 100 percent in a U.S. metro, the cost of doing business in Greater Fargo Moorhead is 84 percent. That’s a significant savings right off the top that comes from reasonable commercial and industrial real estate, low utility costs and relatively low wages. And that’s before you start adding in savings from local, county and state incentives.
There are all kinds of sources of assistance in Greater Fargo Moorhead for people with good ideas. Start-ups qualify for many of the incentives for established businesses that assist with cost reduction, financing, workforce training and research and development. There are also several specific to entrepreneurs.
The Greater Fargo Moorhead region offers many tax advantages for businesses, such as personal property tax exemptions, the lowest worker’s compensation premiums in the United States and the nation’s most generous R&D tax credit.
Lets start with North Dakota which has the only state-owned bank in the nation. Bank of North Dakota takes a unique approach to assisting businesses by joining private and public resources. Including the following:
- MATCH Program
- PACE Program
- New Venture Capital Fund
- Beginning Entrepreneur Loan Guarantee Program
- Business Development Loan Program
- Value-Added Agricultural Equity Loan Program
Both Minnesota and North Dakota offer strong programs that can assist with workforce training translating into a stronger bottom line.