Business Assistance

As CPED works to grow a sustainable city, we provide the following assistance and finance tools for businesses in the City of Minneapolis.

Doing Business in Minneapolis
Business Assistance
City Financial Assistance
Other Financial Resources
Helpful Information

Doing Business in Minneapolis

  • Why do business in Minneapolis? Minneapolis has so much to offer for your business. The city boasts a healthy economy for industry and businesses of all kinds, both large and small. A well-educated workforce is here to help you succeed, and the City offers tools and resources that can help your business grow and prosper.
  • The 11-county Minneapolis/Saint Paul region consistently ranks among the best places to do business in the United States. Three things set it apart: a robust, diverse economy a highly educated workforce and an outstanding quality of life. No wonder Metro MSP makes the short list of site selectors, business owners, and entrepreneurs from around the globe. 
  • To search for available commercial or industrial properties in the metro, a powerful, GIS-based site selection tool enables you to locate buildings or land, pull up site-specific demographic data, and generate valuable reports.

Business Assistance

CPED provides a variety of tools to assist Minneapolis businesses and the city’s business associations.

  • The City’s Minneapolis Employment and Training Program provides a variety of tools and links to assist Minneapolis businesses with employment, training and recruitment.
  • The Great Streets Neighborhood Business District Program offers financing and support programs designed to help businesses develop and succeed along commercial corridors and in nodes throughout the city.
  • The Business Association Assistance Program supports local business associations in an effort to stabilize commercial areas and support business association economic development objectives.
  • The Minneapolis Development Review provides guidance on needed permits and licenses for real estate development and business expansions, relocations and start up.

City Financial Assistance

CPED offers a wide array of financing programs, ranging from $1,000 to $10 million, for Minneapolis businesses as well as staff assistance in selecting the appropriate program.

  • 501(c)(3) Revenue Bonds are tax-exempt financing for capital improvement projects by non-profit organizations.
  • Alternative Financing Program is a profit-based financing tool where no interest is paid or collected.
  • Bank Qualified Bank Direct Loans are cost-effective tax-exempt loans for capital projects in 501 (c) organizations.
  • Business Development Fund Loans assist with redevelopment projects that have a potential for the creation of jobs.
  • Capital Acquisition Loans support small businesses and community organizations purchase and rehabilitate small commercial and industrial properties.
  • Common Bond Revenue Bond Program supports growing manufacturing companies.
  • Emerging-Entrepreneur Capital Acquisition Loans help newer businesses purchase and rehabilitate small commercial, multi-use, or industrial properties.
  • Great Streets Gap Financing is available for real estate development and development acquisition for transformative commercial development projects located on designated commercial corridors, nodes, and LRT station areas.
  • Revenue Bonds finance industrial, commercial and medical facilities, multifamily rental housing, nursing homes and some nonprofit activities.
  • Two-Percent Loans support small Minneapolis businesses with equipment and building improvements.
  • Two-Percent Commercial Corridor/Commercial Node Loans provide financing to small Minneapolis businesses in designated commercial corridors and commercial nodes.
  • Working Capital Program helps small businesses secure working capital financing through private banking institutions.
  • Tax Increment Financing, or TIF, is a public financing method which has been used for redevelopment and community improvement projects
  • Any business that receives financial assistance from the city, even if it does not qualify as a City business subsidy, may be asked to sign a job linkage agreement. Job Linkage agreements encourage businesses to establish five-year job hiring and retention goals, hire Minneapolis residents and pay living wages. An integral part of this agreement involves a partnership between the business and neighborhood workforce development organization to assist in identifying, training and placing new employees.

Other Financial Resources

  • The Brownfields Program provides grants to assist with the cost of investigation and/or clean-up of contaminated property.
  • Hennepin County Transit Oriented Development grants support redevelopment and new construction, have multi-jurisdictional impacts, and enhance transit usage. 
  • The Small Business Adminstration (SBA) provides a number of financial assistance programs for small businesses.
  • Minneapolis businesses are supported by a strong, stable banking community. Ask to meet with a banker to explore financing options available to meet your needs.

Helpful Information

Online information from the City of Minneapolis at www.ci.minneapolis.mn.us/cped
Updated September 1, 2009