Business Incentives for City of Forman
"New Businesses Applicant can choose between the two incentive options below.
#1 Free water/sewer/garbage for one year and $200 after one year in business (Incentive only applies to base rate. All overages will be charged to the business) OR #2 $350 startup grant and $250 grant after first year open.
Expanding Business (Expansion must include physical expansion of property, extension of services or products offered, increase in employment opportunities, or a combination of these.) $500 grant for project
Business Enhancement (New signage, storefront improvements, renovations etc.) $100 grant for assistance with the improvements"
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Image Enhancement Grant – New or Existing Businesses
The purpose of the Image Enhancement Grant is to assist qualified businesses with storefront improvements that enhance the overall image of the community. Application types: -Existing Businesses -Up to 50% of project cost with a maximum of $7,500 *$2,000 limit for sign replacement -New Businesses - Up to 50% of project cost with a maximum of $7,500
PROJECT REQUIREMENTS 1. Project must be visible from Main Street or Central Avenue in locations outlined on the Image Enhancement Grant Location Map. 2. Ineligible Applicants: a. Government/Quasi-Government Agencies*, b. Churches, c. Non-Profit Healthcare Organizations, d. Housing Entities, e. VC Public Schools or f. VC Park District. 3. Projects can NOT be for landscaping. *Exclusion, up to 25% of annual grant fund revenue may be used by the City annually in 2024, 2025 & 2026 for streetscape projects.
GENERAL GUIDELINES 1. Grant funds are intended to help service or retail businesses improve their store front, interior or exterior, to positively enhance the image of Valley City or bring new services to the Valley City Community. 2. Projects that preserve the historical integrity and characteristic details of a building are highly encouraged. Please note, projects cannot be used to cause irreversible harm to a historic property. Preservation Design Guidelines are available on the City website. 3. Application submitted to the City Hall prior to start of project.
Image Enhancement Grant – Historical Building
The purpose of the Image Enhancement Grant is to assist qualified businesses with storefront improvements that enhance the overall image of the community. Historical Building Preservation Grants can cover up to 50% of project cost with a maximum of $30,000.
PROJECT REQUIREMENTS 1. Project must be visible from Main Street or Central Avenue in locations outlined on the Image Enhancement Grant Location Map. 2. Ineligible Applicants: a. Government/Quasi-Government Agencies*, b. Churches, c. Non-Profit Healthcare Organizations, d. Housing Entities, e. VC Public Schools or f. VC Park District. 3. Projects can NOT be for landscaping. *Exclusion, up to 25% of annual grant fund revenue may be used by the City annually in 2024, 2025 & 2026 for streetscape projects.
GENERAL GUIDELINES 1. Grant funds are intended to help service or retail businesses improve their store front, interior or exterior, to positively enhance the image of Valley City or bring new services to the Valley City Community. 2. Projects that preserve the historical integrity and characteristic details of a building are highly encouraged. Please note, projects cannot be used to cause irreversible harm to a historic property. Preservation Design Guidelines are available on the City website. 3. Application submitted to the City Hall prior to start of project.
Red River Corridor Fund
The RRCF identifies and invests in promising early-stage companies with innovative ideas and strong growth potential, providing them with the resources and mentorship needed to scale. We are focused on company in the unscrewed aerial systems (UAS), advanced air mobility (AAM), and AgTech industries.
