What is Devils Lake Economic Development and What Do We Do?

On any given day throughout the year, you’ll find the Devils Lake Economic Development office (DLEC) helping business and community leaders with economic development strategies, discussing workforce development and training options, talking about social media marketing tactics, or just listening to business ideas and offering feedback.

But what exactly does that look like?

“DLEC promotes economic growth of the Lake Region by providing hands-on assistance to our businesses, site selectors and entrepreneurs. Different incentives and programs were created to help ease the start of your business and let it grow in Devils Lake,” said executive director Brady Ash.

As we celebrate National Economic Development Week from May 11 - 17th, we wanted to tell you a little more about who we are, what we do, and how we can help your business develop, grow and expand.

From Revolving Loans to Workforce Recruitment

We offer a wide array of programs from revolving loans to workforce recruitment and retention that include the following:

Business Assistance 

We partner with the North Central Planning Council staff and the local ND Small Business Development Center to provide specific business plan development and delivery. 
Some of the services provided in a confidential, no-cost counseling process include: 

• Business plan development
• Preparing financial projections
• Analysis and budgets
• Assistance with loan requests
• Business purchases and sales

Business Incentives

Did you know the City of Devils Lake funds a Growth Fund with a percentage of the city’s sales tax for job and economic development? Our Executive and Advisory Boards determine the programs needed in the community and consider applications for the use of the funds that accumulate based on community need. Applications must generally be approved prior to construction, building occupancy, or the start of business operations, depending on the program.

Business Loans 

In partnership with the Bank of North Dakota, business owners can take advantage of the Partners in Community Expansion (PACE) Loan or Flex PACE Loan. And DLEC also offers a Small Business Revolving Loan of $5,000 - $20,000.

Facade Improvement Program

Take advantage of an interest-free loan to improve your store or business front! Available to new and existing business owners, some features of this program include: 

• $5,000, $7,500 or $10,000 interest free loans
• Loans to be paid back with minimum payments of $100, $150 or $200 depending on the loan amount per month until paid in full
• Payback term is 50 months

“20 by 20” Skilled Workforce Recruitment and Retention Program

In partnership with ND Career Builders, this unique program provides matching funds to help North Dakota businesses recruit employees and keep our talent in North Dakota! We encourage all of our local businesses to participate to fill vacant positions.

“We have been gaining traction in this program, where local businesses can sponsor local area high school and college students with scholarships with a promise to come back to Devils Lake and work with that business for a set time,” said Ash. “Forward Devils Lake also participates in this with donations towards the student's scholarship, with the North Dakota University System matching all dollars, up to $17,000. It has been a great tool to have when trying to retain our future workforce.”

Click here to learn more about all of these special programs and how you can apply! 

A Dependable Partner

In business, it truly is about who you know and finding people that can help you to achieve success quickly. We are here to help you make informed decisions that will reduce stress and bring stability to your business.

Contact DLEC today to discover all of the resources available to you and your business!