Maplewood's Economic Development Authority (EDA) promotes and facilitates economic development within the city. The EDA considers development proposals on a case-by-case basis and uses a broad range of tools and programs to help projects become viable. This resource is a sample of the tools available for the EDA to use.
Tax Increment Financing
Tax increment financing (TIF) is a planning and financing tool which has been used by local units of government since 1973.Tax increment financing was originally designed by the Minnesota Legislature to replace the federal urban renewal programs of the 1960s, which were gradually cut back and eventually eliminated. Contact the city for more information relating to the use of TIF.
Ramsey County Business Loans Program
Ramsey County receives funding from federal sources and repayments of current loans to capitalize its loan pool. Business Loan staff provide technical assistance in meeting program requirements and will work with applicants to determine the most appropriate source of financing. Accepted loan application packages are reviewed by an independent committee. Loan terms and conditions are negotiated by Ramsey County, and repayment is made to the county.
The Economic Gardening program is about cultivating home-grown businesses in Ramsey County, and it may present an opportunity for you. Economic Gardening provides a suite of high-end, high-speed business growth resources to non-competing second stage businesses who want to grow.
Minnesota Department of Employment and Economic Development (DEED)
The State's business financing programs help companies and communities retain existing jobs and create new high-quality jobs. Not all businesses are eligible. Qualifying companies must meet specific job creation and wage goals.