The City of New Ulm and the New Ulm Economic Development Authority offers several programs to assist businesses in relocating or expanding within our city limits. We welcome your inquiries and the opportunity to help your business find success in New Ulm. We will work with you to develop a customized incentive package that meets the needs of your business.
Revolving Loan Fund
Commercial Property Loan Program
Small Business Loan
Small Business Incentive Grant
Signage and Awning Grant Program
This program is intended to offer funds to property owners or tenants within the Downtown Commercial Center Historic District to add or replace signage and/or awnings. Grants of up to $2,000 are available with a 50% match by the applicant. The project(s) must receive prior approval from the Heritage Preservation Commission to access these grant funds.
Tax Increment Financing (TIF)
Tax Increment Financing (TIF) may be available to offset development costs such as land or building acquisition, utility relocation, site improvements, and installation of public infrastructure. TIF Districts help encourage development that would not otherwise occur without this financial assistance.
Tax Abatement may be available for projects that improve vacant land or a building and that result in higher property taxes on the property. Projects must provide a public benefit.