The incentives package includes $2.514 million on an 80/20 split between Stutsman County and the City of Jamestown, pending each entity’s approval. That covers PACE interest Buy-down, new jobs training funds, JSDC jobs incentive, and up to $1 million payable upon confirmation of and final signatures to construct the processing facility.
Other incentives include up to $500,000 upon completion of the plant, which must be no later than 24 months following the execution date of Letter of Intent with the Spiritwood Energy Park Association.
All loans and grants will be subject to “claw backs” which allows the JSDC to recapture any and all incentives if ADM does not fulfill the incentives.
Jamestown Mayor Dwaine Heinrich stated some concerns with contributing more money for Flex PACE.
After discussion, it was decided that the committee would request another $250,000 for the program, but take a look at the criteria for distributing the funds in the future. That motion was passed.
The committee heard a request from Oviatt LLC for funding to build a new events facility for catered events and weddings. Sheldon Oviatt informed the committee of his plans.
The requested amount was $85,714.31 and was moved for approval by the committee.
Another request was considered by KC Motorsports Inc. for funds to purchase Stutsman Harley Davidson and the property.
JAMESTOWN, N.D. (NewsDakota.com) – The Jamestown/Stutsman Development Corporation (JSDC) had a great response from area businesses in their first internship program.
The Internship Reimbursement Program was created as a way to provide employer reimbursement, paid internship opportunity, and more with the overall goal of recruiting and retaining professionals in the area.
JSDC Business Development Director Corry Shevlin reported that there were interns being brought from outside of North Dakota to the state, which is what their aim was with the program.
Collins Aerospace had the most internship requests with six applications submitted. The program would reimburse up to $3,500 to qualifying businesses to cover expenses for hiring an intern.
JAMESTOWN, N.D. (NewsDakota.com) – The “pathway to success” has been established as the Jamestown/Stutsman Development Corporation (JSDC) approved funding the next steps for the Buffalo City Park in Jamestown.
At a special Board of Directors Meeting Friday, the board met in executive session before moving to approve a request for $600,000 on an 80/21 city/county split to proceed with the next part of the project.
“The North Dakota state legislature has moved forward with a proposed appropriation of a $5 Million state grant,” CEO Connie Ova states in a letter to the board. “This initiative, championed by Senator [Terry] Wanzek and Representative [Craig] Headland, is being provided via SB 2018, ND Department of Commerce including North Dakota Tourism, budget 2021-2023.”