File

City of Becker
12060 Sherburne Avenue
PO BOX 250
Becker, Minnesota, 55308
The City of Becker
2015-2016 Business Finance Guide
DISCOVER WHY BECKER IS
MINNESOTA’S BEST KEPT SECRET
Our Community
DISCOVER WHY
Becker is a vibrant Central Minnesota community located along
Highway 10, a major state highway in the southern portion of
Sherburne County. Becker is conveniently located 16 miles from
St. Cloud and 45 miles from downtown Minneapolis. Nearby
communities include Clear Lake, Monticello and Big Lake all within
10 miles of the city center.
Becker is a Regional Center
Becker remains a strong regional center to the major metropolitan
areas and surrounding communities. The community is rich and
diverse and offers a unique combination of small town charm and a
variety of amenities to support large scale industrial and
manufacturing businesses.
Becker School District
The Becker School District which is proud of their long-standing
tradition of excellence and offers a top notch education. They
maintain reasonable class sizes for a more hands on learning style
and provide excellent facilities for our children.
Becker Community Center
The Becker Community Center (BCC) complements our exceptional
school district and remains as a value-added amenity to the
surrounding community. The BCC is a 44,000 square foot facility that
is the home to recreational activities, service groups and the Great
River Regional Library.
Championship Golf Course
Pebble Creek Golf Course is a valuable asset to the City of Becker
which boasts 27 holes of golf and a great restaurant, Hunters
Ridge. Ranked by Golf Digest as a 4 1/2-Star facility, they have all
the latest amenities such as a practice facility which allows you to
hone your skills and golf shop stocking great merchandise at fair
prices.
Median Household Income:
2000
2010
Percent
Becker
$50,714
$70,526
28%
Becker Township
$65,089
$89,207
27%
Sherburne
County
$57,014
$71,704
20%
Source: US 2010 Census, S1903
City of Becker Commuting Inflow/Outflow 2010:
ENERGY PARK INDUSTRIAL PARK
Energy Park
STATISTICS
Our 70 acre Industrial Park features rail access and infrastructure
improvements to promote economic growth and development within the
city. The Becker EDA works hard to ensure we have Industrial Park and
Building sites available to accommodate any industry. The Becker
Industrial Park features Shovel Ready building sites available for
immediate construction.
Industry of Workers:
ENERGY PARK
Age by Group:
EDUCATIONAL TOOLS AND RESOURCES
Tax Increment Financing (TIF) & Tax Abatement
FINANCING TOOLS
The city considers use of Tax Increment Financing and Tax Abatement
for development projects that would otherwise not occur without public
assistance. Use of these incentives is determined on a case-by-case
basis, considering the City’s policies, specific project criteria and
demand on City Services. To request a copy of the City’s TIF and Tax
Abatement application and policy, Call 763-200-4246.
Shovel-Ready Industrial Park Site Certification
The Becker Industrial Park has recently been certified as a MN
“Shovel-Ready” Site! Sites certified under our Shovel-Ready program
have had all of the planning, zoning, surveys, title work, environmental
studies, soils analysis and public infrastructure engineering completed
prior to the site being offered for sale. These particular sites are
considered attractive to companies that want to move quickly with
plans to start up, relocate or expand their operations.
Industrial Revenue Bonds
The City of Becker can issue industrial revenue bonds to provide low
interest financing for specific projects. Revenue bonds can provide long
term fixed rate financing for industrial manufacturing projects of up to
Ten Million Dollars. Projects can include: Start-ups or expansions in the
industrial or manufacturing field and may pay for land and building
acquisition, building construction, purchase of machinery and
equipment.
Business Advisory Committee (BAC)
The BAC Promotes stable economic growth which maintains a
desirable business environment in Becker. The BAC committee is
made up of key community stakeholders such as our local banker,
architect, public works, planner, electric and gas utility provider,
telecommunications, engineer, and building inspector .The purpose of
the BAC is to provide an open channel of communication between
business owners on specific problems or requests for information and
assistance.
St. Cloud Technical and Community College
St. Cloud Technical and Community College is a comprehensive college
serving the City of Becker and surrounding area. Offering technical and
liberal arts degrees, diplomas, and certificates, customized training for
businesses and professional development classes for individuals; SCTCC
is ready to help fill your need for high performance employees. Whether
you need assistance with a start-up, expansion, or relocation, SCTCC is a
training partner that can count on. www.sctc.edu
Anoka-Ramsey Technical College
Anoka-Ramsey Technical College offers a broad range of Professional
and Workforce training opportunities designed and developed to build
employee knowledge, skills and abilities, improve business process, procedures and performance, and to meet or exceed regulatory
compliance. Through customized consultation, needs assessments, coaching,
evaluation and training services, Professional and Workforce Training is
committed to partner with you to ensure your unique business goals are
met. Our Professional and Workforce Training opportunities include but
are not limited to; Biomedical Technology/Medical Device, Manufacturing/
Trades, Renewable Energy/Energy Management, Professional and
Organizational Development and more. Your success IS our business!
www.ProWorkTraining.com
Minnesota Workforce Center
Understanding and meeting the needs of employers and industries is a key
part of what we do at every Workforce Center. We have tools to help you
publicize job opportunities. Our workforce and business development
representatives can help you find -- and if need be, train -- the right
workers. And we provide workforce and business-related data that can
give you deep insight into economic trends that can affect and shape your
business decisions.
The consultants in our Office of Business
Development provide information about business development, site
selection services, community profiles, and other technical services to
businesses statewide. www.monticello.wfc@state.mn.us
JOBS AND TRAINING
LOCAL ECONOMIC DEVELOPMENT TOOLS
STATE OF MINNESOTA FINANCING TOOLS
REGIONAL TOOLS AND RESOURCES
Small Business Development Center (SBDC)
FINANCING TOOLS
Greater Minnesota Business Expansion Tax Credits
The Greater Minnesota Business Expansion Program provides sales
tax exemptions of up to 12 years to eligible existing businesses
located in Greater Minnesota that meet eligibility requirements
including specified job creation and wage levels. Businesses must
add new FTE’s to be eligible:
< 50 employees – 5 New FTE
50-200 employees -10% increase in FTE
> 200 employees – 21 New FTE
(Program effective after June 30, 2014)
www.positivelyminnesota.com
The Small Business Development Center (SBDC) specializes in providing professional
expertise and guidance that every small business needs to flourish; regardless of what
state the business is at. Free services include start-up business assistance, business
plan development, free confidential consulting and legal advice, access to capital and
loan packaging and market development.
www.stcloudstate.edu/sbdc
Central MN Development Company (CMDC)
The CMDC is an SBA Premier Certified Lender authorized to provide SBA 504 financing
throughout the state. Financing commercial projects through CMDC provides long term,
low down payment, below market fixed rates and a rapid turnaround.
www.cmdcbusinessloans.com
Capital Equipment Sales Tax Exemption
The Capital Equipment Sales Tax exemption provides an immediate,
up-front exemption on purchases. www.positivelyminnesota.com
Xcel Energy
Greater Minnesota Internship Credit
Xcel’s Economic Development Department offers no-cost, confidential assistance to new,
relocating and expanding industrial and manufacturing firms in Minnesota. For more
information contact Xcel’s Economic Development Department @ 800.367.7414.
The Greater Minnesota Internship Credit provides up to $2,000
available to businesses in Greater Minnesota to hire students
through internships.
Program is made available through the
Minnesota Office of Higher Education. www.positivelyminnesota.com
Research & Development Credit
The tax credit for R&D expenditures is 10 percent, up to the first $2
million in eligible expenses. The credit is 2.5 percent for eligible
expenses above $2 million.
Minnesota’s R&D credits are
refundable, which means if the tax credits exceed the tax liability, the
state will issue a refund payment. www.positivelyminnesota.com
Data Center Incentive Program
Companies that build data or network operation centers of at least
25k sq ft and invest at least $30 million in the first two years may
qualify for 20 years or sales tax exemptions on computers & servers,
cooling and energy equipment, energy use and software.
www.positivelyminnesota.com
Score Grant
The Central Minnesota Chapter of SCORE Counselors to America’s Small Business is
part of a national nonprofit association dedicated to entrepreneur education and the formation, growth and success of the nation’s small business. SCORE's mentors, comprised of active and retired business men and women, provide clients with free and
confidential business counseling. To access other SCORE Chapter websites and
workshops throughout Minnesota, start at our Minnesota District website:
www.score-mn.org
REGIONAL TOOLS AND RESOURCES
Enterprise Minnesota
FINANCING TOOLS
Enterprise Minnesota helps manufactures develop and implement
strategies to grow business. Services include idea engineering,
business process review, CEO peer councils and lean manufacturing
(cost saving ways to reduce waste and increase efficiency)
www.enterpriseminnesota.org
Growth Acceleration Program Loan
The Growth Acceleration Program (GAP) assists eligible businesses
with buying down the cost of business services such as LEAN
enterprise, industry standards and certifications etc. and products
provided through Enterprise MN. A company must match 3 to 1 in GAP
investment. www.enterpriseminnesota.org
United States Department of Agriculture Rural
Development (USDA)
The USDA offers the Business and Industry Guarantee Program – loan
guarantees with an upper loan limit of $25 million for businesses which
save or create jobs or improve the economic or environmental climate
in rural areas. www.rurdev.usda.gov.mn
MN Business Finance Corporation
The MNBFC offers the SBA 504 loan program specifically designed to
stimulate private-sector investment in long-term, fixed assets and
provides long-term, low down payment, season priced, fixed-rate loans
to businesses which have the highest probability of creating new jobs
and competing in the world marketplace. www.mbfc.org
STATE OF MINNESOTA FINANCING TOOLS
The Minnesota Department of Employment and Economic Development (DEED) offers a
wide variety of financial resources for economic and community development. If
interested in pursuing contact the Becker Economic Development Department at
763--200-4246.
Minnesota Investment Fund
The Minnesota Investment Fund provides financing to help add new workers and retain
high-quality jobs on a statewide basis. The focus is on industrial, manufacturing and
technology related industries to increase the local and state tax base and improve
economic vitality statewide.
Funds are awarded to local units of government who provide loans to assist expanding
businesses. All projects must meet minimum criteria for private investment, number of
jobs created or retained, and wages paid. There is a maximum award of $1,000,000
dollars per eligible project. At least 50 percent of total project costs must be privately
financed through owner equity and other lending sources. Terms are for a maximum of
20 years for real estate and maximum of 10 years for machinery and equipment. Interest
rates are negotiated. Terms now defined for pieces to be forgivable.
www.positivelyminnesota.com
Minnesota Job Creation Fund
The Minnesota Job Creation Fund provides up to $1,000,000 in grants to approved
businesses after specified job creation and capital investment goals are achieved. The
program contains categories: Job Creation and Capital Investment, with a minimum of
10 jobs and $500,000 in capital investment being the minimum levels for program
participation. Job creation and capital investment rebates are based on project
parameters. $2,000,000 in grants may be provided to businesses creating 200 new jobs
and with $25,000,000 or more in capital investment.
Rebates for employees may be up to 5 years in the metro area and 7 years in Greater
Minnesota. Costs eligible for capital investments include construction materials, supplies
and services. Rebates for capital investment are after 1 year. Program effective starting
Jan 1, 2014. www.positivelyminnesota.com
FINANCING TOOLS
STATE OF MINNESOTA FINANCING TOOLS
REGIONAL TOOLS AND RESOURCES
Minnesota Job Opportunity Building Zone Program (JOBZ)
Seed Fund
JOBZ provides significant local and state tax exemptions from sales,
income and property taxes to new and expanding businesses in Greater
Minnesota. Availability is based on job creation and capital investment by
the business. Among the tax exemptions and credits available until the
program ends in 2015 are:
 Corporate franchise tax (the corporate income tax)
 Income tax exemption for operators and investors, including
capital gains tax.
 Sales tax exemption on goods and services used in the zone if
the goods and services were purchased during the duration of the
zone.
 Property tax on commercial and industrial improvements (i.e. on
the value of the building constructed or expanded.
 Employment tax credit for high-paying jobs.
www.positivelyminnesota.com
Border Cities Tax Credit Program
The Border-Cities Enterprise Zone Program provides business tax credits
to qualifying businesses that are the source of investment, development
and job creation or retention in the Border-Cities Enterprise Zones cities.
www.positivelyminnesota.com
Minnesota Job Skills Partnership
The Minnesota Job Skills Partnership is a strategic program pairing
businesses and educational institutions to train or retrain workers, expand
work opportunities and retain high-quality jobs in the State of Minnesota.
The maximum grant is $400,000 which is awarded to the educational
institution to assist in underwriting the cost of developing and delivering the
curriculum.
Training can be done on site of the business.
www.positivelyminnesota.com
The purpose of the Seed Fund is to promote the entrepreneurial culture within Central Minnesota and promote the capacity of manufacturing or technology-related
companies to grow. Eligible uses of funds include the development of new products
or technologies including:
 Product research and development
 Working capital to develop new product(s)
 Market research and development of new product(s)
 Prototype development and testing
 Other related uses deemed appropriate by the Central Minnesota
Seed Fund
Term:
Fee’s:
Interest:
n/a
1% origination fee
n/a
Interest Type:
Amount $:
n/a
Up to $50,000
Eligibility Requirements:
Project funding requires a minimum of a 1:1 ratio equity or cash match dollar for
every dollar of Seed Fund investments. Eligible participants include individuals,
small and medium size businesses located in the counties served by the Initiative
Foundation.
Please see the Initiative Foundation website www.ifound.org for additional
information.
REGIONAL TOOLS AND RESOURCES
Initiative Foundation Business Loan Program
FINANCING TOOLS
The Initiative Foundation Business Loan Program is designed to assist business owners and conventional funding sources in financing
new and expanding businesses that provide quality job opportunities
and strengthen the local and regional economy. Eligible projects: land
and buildings, construction, remodeling, machinery and equipment,
financing costs and working capital.
REGIONAL TOOLS AND RESOURCES
Initiative Capital Technology Fund
The Technology Fund supports emerging technology ventures and helps established
companies integrate proven productivity applications into their business operations and
process. Eligible investments;
operating capital, fixed assets, land and buildings,
construction and leasehold improvements, machinery and equipment for high-volume
productivity or high margin applications, commercialization of new product launch and
marketing, productivity and process-enhancing software systems.
Term:
Fee’s:
Interest:
Term:
Fee’s:
Interest:
Varies
1% loan app/
origination fee
Determined on a
case by case basis
Varies
1% loan app/
origination fee
Determined on a
case by case basis
Interest Type:
Amount $:
Interest Type:
Amount $:
Fixed
Up to $250,000
Fixed
Up to $250,000
Eligibility Requirements:
Demonstrated management skills, industry experience and financial
controls. A sound business plan with financial projections. Due
diligence in product and technology validations. Outside assessment
of business and marketing plan (if deemed necessary). Creation of
living wage jobs with broad employee benefits.
Please see the Initiative Foundations website at www.ifound.org for
additional information.
Eligibility Requirements:
Demonstrated management skills, industry experience and financial controls. A sound
business plan with financial projections. Due
diligence in product and technology
validations. Outside assessment of business and marketing plan (if deemed necessary). Creation of living wage jobs with broad employee benefits.
Please see the Initiative Foundations website at www.ifound.org for additional information.