The North Dakota Department of Commerce announced today it has renewed the Renaissance Zone Program for the city of Northwood for five additional years. The Renaissance Zone Program is a tool for community redevelopment and economic investment that incorporates tax incentives to business and residential properties.
Northwood started utilizing the Renaissance Zone Program in 2004 and has had nine approved projects. Recent projects include several new residential homes in the community.
“Northwood has used the Renaissance Zone Program to encourage reinvestment and redevelopment in its downtown area to enhance business and improve housing,” said Rikki Roehrich, program manager at the North Dakota Department of Commerce. “The program is often used in smaller rural communities to attract businesses that provide vital services to their populations.”
The Renaissance Zone Program currently includes 58 cities across North Dakota. Since the program’s inception in 1999, more than 1,600 projects have been approved and more than 1,300 have been completed.
For more information, contact Renaissance Zone Program Manager Rikki Roehrich at 701-328-2687. For tax related questions, please contact Lorie Bowker at 701-328-1296.
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.
For more information please visit www.commerce.nd.gov