In 2010, an Economic Development Fund was created and funded. One of the primary uses of the fund is to provide incentives for companies seeking to relocate or expand within the City. Based on the criteria listed in the Economic Development Incentive Policy, the City can consider providing financial incentives based on the:
Number of jobs created and/or retained
Average annual salaries of jobs created and/or retained
Capital investment in the community
These financial incentives include local matches for state economic development programs, grants and/or loans and subsidized leases. The incentive programs are for companies that are primarily corporate or regional headquarters. They are not intended for retail operations, restaurants, or similar businesses.
Under this policy, the City can also provide non-financial incentives such as: