|Program||# of Grants||EDA Funds|
During Fiscal Year 2013, EDA invested $20,318,300 in 15 projects in the State of North Dakota. These projects are expected to create or retain 315 jobs and leverage $30,000,000 in private investment, according to grantee estimates. EDA’s investments help North Dakota communities achieve bottom-up, locally-defined economic development goals and strategies.
EDA offers a complementary, balanced portfolio of grant programs designed to help rural and urban communities grow their private sectors and create jobs.
Investment Spotlight: Downtown Minot Smart Growth Development
In June 2011, flooding along the Mouse River in Minot, North Dakota reached an all-time high, breaking a 130-year old record. Because Minot is the regional commercial center for northwest North Dakota, the displacement of hundreds of Minot homeowners and businesses dealt a devastating economic blow to the entire region.
When the flood water receded, the city found that much of its existing infrastructure was beyond repair. In May 2013, EDA awarded the City of Minot $18 million to rebuild and upgrade deteriorated public infrastructure in a 26-block area of downtown Minot. This project supports the Downtown Minot Smart Growth Development Disaster Recovery Project, which is focused on enabling the City to address the demand for new retail, commercial, and housing space outside of the flooded area. Not only will this project help strengthen the infrastructure needed for a more robust retail base, but it will enable displaced homeowners and businesses to relocate to the downtown area and assist with economic development efforts needed to make the community more resilient to future disasters.
The project lays the foundation for a new wave of private investment in housing and commercial development in the center of the city, supporting the rebuilding of the city’s tax base, and adding strength to the recovery of adjacent residential neighborhoods. The near-term economic impact on the city’s recovery is estimated at $35 million in new private investment and the creation of 60-75 jobs, with an additional $190 million in investment projected over the next ten years. New residents in the downtown business district could generate another $140 million of private investment.