The North Dakota Department of Commerce announced today that three companies were approved $3.58 million in loan and venture funds through the North Dakota Development Fund (NDDF) during the fourth quarter of 2021.
“Providing incentives for new or expanding businesses makes North Dakota a competitive state in attracting business ventures in both domestic and international markets,” Commerce Director of Economic Development and Finance Josh Teigen said. “Programs such as the development fund, are one of many options that we offer to encourage and create a thriving local economy with a global influence.”
Fourth quarter of 2021 recipients:
- Wee Folk Child Care LLC, a child care center in Bismarck, received $100,000 in working capital to support startup costs for a new center that will accommodate more than 200 children.
- SafetySpect Inc., a Grand Forks-based company developing the Contamination and Sanitization Inspection and Disinfection Plus (CSI-D+) system that detects, disinfects, and documents contaminants without the use of chemicals, was awarded $480,000 to support commercialization of its device.
- Cerilon GTL ND, Inc., received $3 million to support front-end loading studies of the gas-to-liquids complex project in Williams County.
The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible funding through debt and equity investments for new or expanding North Dakota primary sector businesses. The fund also manages the Child Care Loan Program created by the North Dakota Legislature in 2009.
More information about the NDDF can be found at belegendary.link/North-Dakota-Development-Fund.