The City of Minneapolis Economic Development team works with businesses to start, stay and grow in Minneapolis. We do this in a variety of ways:
Download a list of Business Support Tools
- Business loans – Loans to support business start ups and growing Minneapolis businesses. Call 612-673-5072.
- Two-Percent Loans support small Minneapolis businesses with equipment and building improvements.
- Alternative Financing Program is a profit-based financing tool where no interest is paid or collected.
- Business Development Fund Loans assist with redevelopment projects that have a potential for the creation of jobs.
Energy Efficiency Programs and Financing
- Homegrown Business Development Center provides financing and technical assistance to Minneapolis based businesses that manufacture local food products.
- Health & Safety Improvement Loan Program to help with small businesses to pay for needed code compliance and other remedial minor physical improvements for regulated businesses.
- Grow North: Targeted tools to support business investment in North Minneapolis.
- Great Streets Gap Financing is available for real estate development and development acquisition for transformative commercial development projects located on designated commercial corridors, nodes, and LRT station areas.
- 501(c)(3) Revenue Bonds are tax-exempt financing for capital improvement projects by non-profit organizations.
- Bank Qualified Bank Direct (BQ) Tax Exempt Bonds provide cost-effective, tax-exempt financing for capital projects for smaller 501 (c)(3) organizations for projects in the $1 million to $2 million range.
- Common Bond Revenue Bond program supports growing manufacturing companies.
- Revenue Bonds finance industrial, commercial and medical facilities, multifamily rental housing, nursing homes and some nonprofit activities.
- New Markets Tax Credits are a financing tool available for commercial and real estate development projects in designated areas of market failure. A number of Minnesota financial institutions have allocations of these tax credits that can be deployed for Minneapolis real estate development projects. Contact Miles Mercer at 612-673-5043 for more information.
- Tax Increment Financing,(TIF), is a financing mechanism that can be utilized for significant redevelopment projects that are expected to substantially increase a property's tax value.
Great Streets Neighborhood Business District Program
- The City of Minneapolis offers Business District Support Grants, Façade Improvement Matching Grants, Real Estate Development Gap Financing Loans, Small Business Technical Assistance Grants, and Small Business Loans under the Great Streets Program.
- Façade grants – Available to business districts through an annual competitive bid process.
- District vitality – Marketing and branding initiatives and business recruitment efforts available through an annual bidding process. See the Great Streets program page for more information.
- Business consulting and location selection
- Economic Development staff are “go to” people for businesses to help navigate the regulatory process, identify locations for start-up and expansion and access to capital.
- Search for available land, commercial or industrial properties in the metro via an online tool from the Minnesota Commercial Association of Real Estate or call Miles Mercer at 612-673-5043.
- The City of Minneapolis also financially supports a number of nonprofit organizations that provide more intensive consulting services to entrepreneurs through the Business Technical Assistance Program.
- Targeted tools to support business investment in North Minneapolis: Grow North
Other Business Support Resources
- Several other organizations offer business consultation services and events to help you succeed, including SCORE, the Twin Cities Small Business Development Center at St. Thomas University, MCCD, and the University of Minnesota Office for Business & Community Economic Development.
- Read information and guidance from the State of Minnesota on starting a business in Minnesota. The State has a related blog, Minnesota Business 101, that discusses a range of topics for new businesses.
- PACE is Property Assessed Clean Energy. It allows property owners to borrow money from newly established municipal financing districts to finance energy retrofits (efficiency and renewable energy measures) and repay the loan through an annual special tax on their property bill.
- The U.S. Small Business Administration (SBA) Emerging Leaders Initiative is a federal training initiative co-sponsored by the City of Minneapolis that specifically focuses on executives of businesses poised for growth in historically challenged communities.
- The Minneapolis Regional Chamber of Commerce has programs and a diverse member network to help your business succeed.
- Connect with neighborhood business associations (pdf) and other business owners to stay informed.
- The Metropolitan Consortium of Community Developers is an association of community development organizations committed to expanding the wealth and resources of neighborhoods through housing and economic development initiatives.
- The Minneapolis Downtown Council is the central business district association that works to preserve and enhance a vital and attractive downtown for the people who invest, work, shop, visit and live in Minneapolis.
City Staff Contacts
The City’s Department of Community Planning & Economic Development has a variety of resources to help your business succeed. Call us for information on:
- Business Licensing: Call 612-673-2080.
- Permits for construction, remodeling, and renovation projects and zoning questions: Call 311 or 612-673-3000 or visit the service center downtown.
- Business financing programs: Call 612-673-5072.
- Workforce and training assistance: Mark Brinda at 612-673-6231.
- Site selection and general business questions: Miles Mercer at 612-673-5043.
- Business Technical Assistance Program (B-TAP)
Last updated Sep 2, 2016