The Store Front Improvement Grant was created to help enhance the appearance of commercial structures within Bowman County and its cities. The grant must have a fifty percent private match up to $1000. The Bowman County Development Corporation (BCDC) will match the other fifty percent up to a maximum of $1000. For example, on a $2,000 project, $1,000 is paid by the owner, $1,000 paid by the BCDC.
Funds are only to be used to enhance the property’s exterior and do not include general maintenance. Grant excludes residential property used for home based business. Following grant application and approval, projects may be started, no prior projects will be considered. Grant applications may be picked up and turned in at the BCDC office.
The Bowman-Slope Revolving Loan Fund was created to help business start-ups and expansions within Bowman and Slope Counties. Funds are generally used to buy down interest on loans for equipment, some renovation and other projects. There is some flexibility within this program and funds are distributed at the discretion of the BCDC. Application must be made through a local bank and the loan officer presents the application to the BCDC Board of Directors.
The PACE Fund is designed to assist North Dakota communities in expanding their economic base by providing for new job development. This program has two major elements: (1) the participation by BND with a local lender in a community based loan, and (2) the participation by the PACE Fund with the local community in reducing the borrower's overall interest rate.
The SW REAP Zone is intended to promote opportunities for existing and new businesses by promoting the development of a regional tourism plan, increasing value-added agriculture opportunities, and by creating a seed investment fund to start-up businesses. Other promotional ideas include promotion of entrepreneurial home-based businesses and jobs, preplanning of industrial parks in key areas within the region, and capitalization of the REAP investment revolving loan fund to $3 million.
Within Bowman County and its cities, different forms of property tax exemption are available. For new and expanding business the most common form is a graduated five year property tax exemption. Application may be made through the County Tax Director’s office.