The North Dakota Department of Commerce announced today that the Renaissance Zone Program for the city of Grand Forks has been renewed for five additional years.
The Renaissance Zone Program is a tool for community redevelopment and economic investment that incorporates tax incentives to business and residential properties.
Grand Forks started utilizing the Renaissance Zone Program in 2001 and has had 69 approved projects. Recent major projects for the community include a building rehabilitation by Epic Holdings LLC in 2020 and a new building construction by Global 2000 Partners LLP in 2017.
“Grand Forks has used the Renaissance Zone Program to encourage reinvestment and redevelopment in its downtown area to enhance business and improve housing,” said Rikki Roehrich, program manager at the North Dakota Department of Commerce. “The program is often used in both larger cities and smaller rural communities to attract businesses that provide vital services to their populations.”
The Renaissance Zone Program currently includes 59 cities across North Dakota. Since the program’s inception in 1999, more than 1,700 projects have been approved and more than 1,350 have been completed.
For more information, contact Renaissance Zone Program Manager Rikki Roehrich at 701-328-2687. For tax-related questions, please contact Liliya Montgomery at 701-328-1296.