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EDA adopts workers-comp credit approach for enterprise zone, approves financials and forwards budget to council
Summary
The East Grand Forks EDA approved new rules to use workers-compensation credits within its Border Cities enterprise-zone incentives (capped by project risk class), approved financial reports (including noting a $61,000 discretionary loan fund), and voted to send the draft budgets to city council for levy and finalization.
The East Grand Forks Economic Development Authority on Wednesday approved updates to its enterprise-zone incentives to allow the use of workers-compensation credits as a form of assistance and set program caps tied to project risk class.
Staff told the board the EDA received an annual allocation for the enterprise-zone credits (staff cited an approximate allocation of…
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