North Dakota secures $30M loan to attract Agristo potato processing facility to Grand Forks

The Grand Forks Public Schools Board convened on July 14, 2025, to discuss significant developments regarding local agricultural projects and infrastructure investments aimed at enhancing the region's economic prospects.

The meeting began with a presentation on a new agricultural initiative that aims to reintroduce high-value crops to the Grand Forks area. A key highlight was the announcement of a $30 million forgivable loan from the state of North Dakota, designed to help the region compete with Wisconsin in the agricultural market. This funding is critical as Wisconsin has been providing substantial incentives, including free land and a 20-year tax exemption, to attract agricultural projects.

The discussion emphasized the importance of rail infrastructure to facilitate the transportation of crops to markets, particularly in the East Coast and Southern regions of the United States. The board acknowledged the efforts of local representatives, particularly Representative Hager, who advocated for the increased funding, which was initially proposed at $10 million but successfully raised to $30 million.

The meeting also covered the city's investment of $30 million in infrastructure to prepare the Foo Phong site for development. This investment has significantly increased the site's value, now estimated at $11 million, due to its rezoning to industrial use and the infrastructure improvements made.

A critical component of the project is a proposed 20-year tax incentive, which has been adjusted to a 90% tax exemption to make the Grand Forks site more competitive against Wisconsin's offerings. The board discussed the timeline for the project, with Agristo, the company involved, expected to finalize land purchases and begin construction by next spring, following environmental design and permitting processes.

The meeting concluded with optimism about the project's potential economic impact, with phase one estimated to cost between $450 million and $500 million. The board expressed confidence in Agristo's ability to execute the project successfully, which could lead to further phases if the initial phase proves profitable. Overall, the discussions underscored the collaborative efforts between local government, state representatives, and agricultural stakeholders to bolster the region's economy through strategic investments and incentives.