Jamestown/Stutsman Development Corp. working to create incentives
The Jamestown/Stutsman Development Corp. New Business Attraction Committee and the JSDC Board of Directors will need to approve the final plans on creating the incentives.
The Jamestown Stutsman Development Corp. is working on creating incentives that address gaps on what JSDC currently offers and also help alleviate a workforce shortage, according to Corry Shevlin, business development director at JSDC.
Shevlin informed the JSDC Board of Directors on Monday, Feb. 14, about three different types of incentives that could be created.
He said an automation-type incentive would help manufacturers that are trying to improve productivity or complete an expansion but are not able to find people to work. He said businesses would not be able to use the incentive if they are eliminating full-time positions.
Shevlin said the second type could be a primary-sector exclusive incentive that would help finance or incentivize companies that aren’t using traditional finance methods.
He said the JSDC is working with a developer to create a proposal for a housing incentive. He wrote in a memo to the JSDC New Business Attraction Committee that various developers have identified gaps in financing that are hurdles to making developments a reality.
The JSDC New Business Attraction Committee and the JSDC Board of Directors will need to approve the final plans on creating the incentives.
In other business, Jamestown Area Chamber of Commerce Executive Director Emily Bivens said Applied Blockchain Inc. will hold a ribbon-cutting ceremony at 10:30 a.m. Wednesday, Feb. 23, for its cryptocurrency hosting facility that will be located north of Jamestown. The hosting facility will be co-located with a substation owned by Otter Tail Power Co. Applied Blockchain has an agreement with Otter Tail Power to provide for up to 100 megawatts of power for five years.