The Vision Fund is intended to provide assistance to businesses that desire to expand or locate in the Bismarck Region. The primary purpose of this fund is to encourage and assist in the development of employment within the region by creating new jobs; expanding the regional tax base; increasing capital investment; improving the entrepreneurial climate of the region; and generally expanding the financial base of the region. Generally, the Vision Fund funds will be used to develop private enterprise. Non-profit organizations will be considered for these funds when it can be determined that the nonprofit venture meets the General Purposes for which the fund was established.
Funds available through the Vision Fund may be used to provide temporary or permanent financing of any cost related to the relocation and/or establishment of a new business within the Region or the expansion of an existing business into new products, services or markets. The business must have a proven financial record or an acceptable financial projection and be able to demonstrate to the Vision Fund that it will be creating new full-time jobs.
The funds will not be available as a substitute for venture capital or to restructure existing debt or save existing jobs. No funds will be available to establish a retail activity when the retail services/products of the new venture are already available within the region.
Funds available through the Vision Fund may also be used for project development expenses, but only to a sanctioned economic development association or group with IRS tax-exempt status that has developed a proposed project that meets the eligibility criteria.
For further information or an application, please contact the BMDA office at 701-222-5530, or firstname.lastname@example.org.