JSDC incentives give Jamestown advantage over other cities
The Internship Reimbursement Program helped employers hire 14 interns in 2021.
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The Jamestown/Stutsman Development Corp. offers incentives that give Jamestown an advantage over other cities in economic and community development, according to Corry Shevlin, business development director.
Shevlin said Jamestown is one of the leading cities for allocating Flex Pace dollars to businesses. He said about $600,000 was allocated to businesses in 2021.
The Flex Pace program uses a loan from the JSDC and a grant from the Bank of North Dakota to reduce the interest rate on business loans for qualifying projects.
The JSDC recently approved an automation incentive program, a grant program only for primary-sector businesses where they can receive up to $25,000 or 5% of the cost of their new equipment that is associated with automation. A business can only apply one time for the funding.
“The automation is very expensive to get the things that you need and the training on top of that when you need the employees,” Shevlin said. “It’s good for Jamestown when companies are able to do that in a couple different ways: It makes the company better, but with all the additional training, it makes their employees better and the people who live in Jamestown more equitable.”
The JSDC also has the Internship Reimbursement Program that is designed to increase the number of local internships and help employers with workforce recruitment and retention, according to JSDC’s website. The program contributes up to $3,500 to reimburse employers that are hiring university/college students to assist in payroll costs and is open to employers in Stutsman County.
The Internship Reimbursement Program helped employers hire 14 interns in 2021, Shevlin said.
“When you think about professional business or whatever it may be, trades and services as well, they are not excluded from that program, reimbursement for payroll for interns I think goes a long way,” he said. “One: Helping the company secure the intern. Two: It helps the companies whether it’s for an actual need for a payroll that they need that help on the bottom line or if it is used as a tool for recruitment for some of our bigger companies that don’t quite need that bottom-line boost.”
He said the role of JSDC has changed over the years.
“We are in a market in which workforce recruitment and retaining employees is almost as important as attracting new ones,” he said.