North Dakota New Jobs Provides $2.5 Million in Support of Cass County Companies since 2020
October 13, 2021 | Bylgnelson| News
To stay competitive on a national and global scale, our region and state agencies strategically support primary-sector companies with programs and incentives that bolster their overall growth and vitality.
One of those programs in North Dakota is the ND New Jobs Program. The incentive supports hiring by providing funds to offset costs for the training and onboarding process. The GFMEDC has assisted by marketing and administering the incentive to companies in Cass County.
The EDC is currently administering 48 active accounts. We’ve added three companies in 2021 and two in 2020. In the past two years to date, we have helped administer close to $2.5 Million.
Total paid for 2020: $1.6 Million
Total paid first two quarters of 2021: $868,000
The ND News Jobs Program offers incentives for primary-sector companies creating full-time positions which is intended to offset new employee training costs.
According to their website “Under the North Dakota New Jobs Training Program, your business may be able to obtain funds in the form of a loan, a reimbursement grant, or under a self-financing option. State income tax withholding from the new positions created are matched for up to ten years, until the maximum reimbursement is reached, or until the loan is repaid, whichever comes first.”
An agreement must be in place prior to hiring. To find out more about the program, head to their website page.
Want to know if your company would qualify for primary-sector status? Check it out.