Return to the Economic Development Index
All community wide financial assistance to business is based on a case by case basis. Fairmont has been aggressive in helping to assist its business community grow. In the past, Fairmont had 21 active Tax Increment Financing (TIF) projects.Today, ten are active. These projects have ranged from large 80,000 square foot industrial expansions, to downtown redevelopment to warehouse and distribution, a $1.1 million 225,000 square foot commercial and retail mall redevelopment, a 28,000 square foot professional and health care center with out-patient surgery and a $75 million soybean processing plant.
Fairmont has approved 2 Job Opportunity Building Zones. One is a $150 million dollar ethanol plant. The second is a 30,000 square foot five acre expansion of warehouse and distribution.
The City operates a $1.3 Million Revolving Loan Fund. At the present time funds are available for individual projects.
The City owns Industrial Park real estate with many different options available for land acquisition.