Incentives & Programs

The Heartland Lakes Development Commission (HLDC) supports business growth and community prosperity across Hubbard County, Minnesota, including Park Rapids, Nevis, Akeley, Dorset, Lake George, and surrounding areas. By linking manufacturers, processors, retailers, tourism operators, entrepreneurs, and remote workers with capital, markets, and place-based resources, HLDC aims to expand high-quality jobs, strengthen the region’s value-of-place, and diversify revenue across shoulder seasons. Our emphasis is on practical, data-driven actions that build lasting capacity for local businesses and the communities they serve. HLDC aligns with a live-where-you-vacation lifestyle, while delivering accountable, collaborative support and clear outcomes for employers and residents alike. Examples of useful resources and organizations for opening or operating in this region follow.

Incentives & Programs

Tax Increment Financing (TIF)

Tax Increment Financing (TIF) uses the increased property taxes that a new real estate development generates to finance costs of the development. 

Economic Development Property Tax Abatement

Economic Development Tax Abatement provides political subdivisions to grant property tax abatements to encourage a business to locate or expand at a location or to redevelop an area.

Opportunity Zones

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Opportunity Zones are a community development program established by Congress to encourage long-term investments in low-income and urban communities nationwide.  

HubZones

HubZones program fuels small business growth in historically underutilized business zones with a goal of awarding at least 3% of federal contract dollars to HUBZone-certified companies each year.

Minnesota Investment Fund (MIF)

Minnesota Investment Fund (MIF) is a loan program and available to businesses engaged in manufacturing, warehousing, distribution, technology-related industries, and other activities that could be located anywhere and still serve the same market and customers.  It is designed to generate new income or wealth to the state that would not be generated by local market demand conditions.

Minnesota Forward Fund

Minnesota Forward Fund serves as a closing fund to facilitate private investment that supports business attraction, retention, and expansion in existing and new industries and to develop properties for business use.

Minnesota Job Creation Fund

Minnesota Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.

Park Rapids Revolving Loan Fund

Park Rapids Revolving Loan Fund provides loans to organizations that create or retain permanent livable wage jobs, leverage investment to promote economic growth, increase the local tax base and enhance the quality of live within the Community.