New Ulm Economic Development Corporation assists expanding, relocating or new businesses in accessing incentives, securing financing, securing data and information and utilizing services or programs. Our focus is to serve as your advocate during your development process. We can help access any of the following incentives.

JOBZ
JOBZ provides local and state tax exemptions and tax credits to new and expanding businesses. Contact us to find out more, or click on the link to Visit the JOBZ website.

Job Skills Partnership Workforce Training Grants
Grants of up to $400,000 are available to pay for customized training for new employees or to retrain existing employees. For more information contact us, or View more information about this opportunity.

Tax Abatement
An alternative to JOBZ. Tax abatement allows for a portion of the real estate taxes to be abated for up to 20 years on new development. The abated taxes can be rebated to the business or used as a revenue stream to pay for infrastructure, site work, or to write down the cost of land acquisition.

Tax Increment Financing
Another alternative to JOBZ. TIF allows the city to "capture" the increased real estate taxes from new development or substantial renovations. The funds can be used for land purchase write down, site work, utiltity extensions, or renovations of substandard structures

Revolving Loan Funds
The following entities have revolving loan funds; City of New Ulm, Region Nine, Southern Minnesota Initiative Foundation, Minnesota Investment Fund, Minnesota Community Capital Fund. Loan amounts range from $25,000 to $500,000 depending on the entity. These funds typically take a subordinate collateral position to a primary lender.

Additional Information
For more information call New Ulm Economic Development Corporation at (507) 233-4305, or (507) 276-9729 or e-mail: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .