Development Toolbox

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There are many opportunities in the City of Faribault for commercial, industrial, and residential development and expansion. This online toolbox provides easy access to local, regional, and state resources to assist with relocation, growth and development needs. Please contact the Community & Economic Development office for additional information and to help determine eligibility at 507-333-0388.

Available Land 

To search for available properties for your development, relocation or expansion needs.


Loan & Grant Programs

 
Faribault's Downtown Commercial Rehab & Exterior Improvement ProgramPolicy  2018 Application

Economic Development Loans: Industrial Development Loans, Minnesota Investment Fund (MIF) Commercial Development Loans/Grants, Facade Improvement Micro Loans, and Commercial Rehab Loans. Policy Application 

Housing Development Loans and Grants: Policy  Application

Tax Incentives​: Tax Abatement    Tax Increment Financing (TIF)

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.

  • 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.
  • 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. 

  • Souh 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.

Research & Data

In 2017 the EDA released "Understanding Faribault’s Economy" which details the city's economic competitive advantages. The report provides a broad overview of the local economy with a specific focus on its strengths – a strong, diverse manufacturing base, relatively strong growth in employment and wages, and a growing population of working age adults in the face of statewide (nationwide) workforce shortages.