Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Commerce proposes line of credit, eligibility changes to expand Development Fund
Summary
The Appropriations - Education and Environment Division committee discussed proposals to expand and add flexibility to North Dakota’s Development Fund, including allowing some non-primary sector businesses to qualify, adding grant authority for federal matching projects, and pursuing a line of credit from the Bank of North Dakota.
The Appropriations - Education and Environment Division committee discussed proposals to expand and add flexibility to North Dakota’s Development Fund, including allowing some non-primary sector businesses to qualify, adding grant authority for federal matching projects, and pursuing a line of credit from the Bank of North Dakota.
The discussion came during a committee meeting when Chris Shilkin, Department of Commerce commissioner, described amendments that would "add non primary sector businesses" to eligibility for the $50,000,000 the governor requested and said an amendment would "add grants to this," to help projects that need matching funds for federal Department of Defense or similar awards.
Why it matters: Committee members said demand for the fund has risen as projects have grown in size and complexity, and they want tools that let state dollars leverage larger private and federal investments without continually increasing appropriations.
Details from…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
