Financial Resources
The Duluth Economic Development Authority has access to financial resources to assist projects. Alongside our partners, DEDA staff can work with you to navigate these resources.
MN Investment Fund and MN Job Creation Fund: These are two State of MN DEED loan programs. Jobs must meet certain manufacturing industry requirements.
MN Job Training Incentive Program: Grants of up to $200,000 are awarded to eligible businesses to provide training for new jobs in Greater MN.
Depending on the scale and impact and scale of a project the City of Duluth and DEDA may explore Tax Increment Financing and Tax Abatement for redevelopment.
The Duluth 1200 Fund provides incentive loans for business expansions and relocations within the City of Duluth, which will create new jobs. A loan from the Duluth 1200 Fund is intended to address a gap in the financial package, not replace business owner equity contributions or traditional bank lending.
Duluth 1200 Fund
The 1200 Fund provides incentive, expansion support, childcare and startup loan options for businesses in multiple phases of growth within the City of Duluth. With the funding provided, businesses create new jobs, childcare availability, and the ability to bring a business continued success. Loans from the Duluth 1200 Fund are intended to address a gap in the financial package necessary to complete a project, not replace business owner equity contributions or traditional bank lending.
