Development Toolbox

Many opportunities exist in Faribault for commercial, industrial, and residential development. This online toolbox provides easy access to local, regional, and state resources to assist with land and businesses development in the community.

Please contact the Community & Economic Development office for additional information and to help determine eligibility.

Available Land
     
Local Business Resources

The City of Faribault has various incentive programs designed to support and encourage investment in the community. 

Economic Development Loans  

Tax Incentives

Housing Development Loans and Grants

Regional & State Partner Resources



The City of Faribault understands that importance of leveraging resources and building a network of partners who are interested in working towards the same vision. The following organizations are important contributors to development efforts in our community, providing financial resources that support quality growth. Each organization has their own tools, which are integral components to the overall development toolbox.
 
Faribault Area Chamber of Commerce - The local chamber advocates for businesses and works to build strong alliances. Their vision is to support growth and prosperity, and they are a strong economic development partner. The Faribault Area Chamber of Commerce also maintains a list of local businesses and other business resources.

Faribault Main Street is organized to unify the Central Business District, with emphasis on Central Avenue, to create an attractive destination in which businesses prosper, the community benefits and residents and visitors enjoy a quality downtown experience.  
 
Rice County Economic Development - provides economic development loans and tax abatement for qualifying projects.
  
Rice County Small Business Development Center (SBDC)- The Rice County Small Business Development Center is housed at the Faribault Area Chamber of Commerce office. The SBDC provides free and confidential counseling for small businesses. Local, qualified counselors are available to meet with businesses on any business topic.Rice County Small Business Development Center (SBDC)- The Rice County Small Business Development Center is housed at the Faribault Area Chamber of Commerce office. The SBDC provides free and confidential counseling for small businesses. Local, qualified counselors are available to meet with businesses on any business topic.

Southern Minnesota Initiative Foundation
- supports a 20 county region by providing loans that support quality jobs.
 
Steele-Waseca Cooperative Electric (SWCE) - is an electric utility provider that serves our industrial parks. Not only does SWCE provide reliable electric power, they have loan programs designed to support development within their territory, and they have access to USDA no-interest loan dollars.
 
South Central College - is part of the MnSCU system and is know for their quality education and training. The Center for Business and Industry (CBI) was established specifically to help businesses. South Central College and CBI are positioned and ready to provide training and curriculum to meet the needs of business and industry.
 
State of Minnesota - Department of Employment and Economic Development (DEED) - supports economic development efforts throughout the state. The City of Faribault has successfully worked with DEED staff to access state and federal program dollars for local projects.