Expansion of the Hibbing area economic base while maintaining high quality of life.
Hibbing Economic Development Authority
H.E.D.A. offers development assistance for new and expansion-minded businesses interested in locating in Hibbing. This assistance can take many forms depending upon the individual needs of each client. HEDA utilizes both in-house staff and professional consulting firms to make sure all development efforts are maximized.
H.E.D.A. coordinates a Loan Program for construction or equipment with the Minnesota DEED, IRR or other area lending institutions, allowing for tremendously flexible terms.
A new Storefront Loan Program is also available again with the expressed purpose of assisting Hibbing retail businesses with below market financing to stimulate business owners to physically enhance the appearance of their buildings.
Eight Tax Increment Districts throughout the city offer the ability to improve infrastructure (utilities, etc.) for clients without demanding large up-front costs.
Hibbing provides a wide array of economic development incentives including Industrial Revenue Bond capabilities, four industrial park sites with low-cost land and buildings and a district steam system for heating at very reasonable prices.
Planning is also ongoing to develop a comprehensive plan for community and economic development of Hibbing and the central Iron Range area. HEDA is also working to develop a technology center to function as an incubator for new businesses.
HEDA Store Improvement Loans
The Hibbing Economic Development Authority (HEDA) has developed a loan program with the expressed purpose of assisting Hibbing retail businesses with below market financing to stimulate business owners to physically enhance the appearance of their buildings.
Note: At any point in the review process, the application may be denied or sent back for further information
HEDA Business Loan Guidelines and Application
The Hibbing Economic Development Authority (HEDA) has developed a business loan program with the expressed purpose as follows: "to assist in the creation and maintenance of productive, permanent skilled employment" through the establishment of new or expanding private sector business located within the City of Hibbing.
HEDA Agendas & Minutes
|Shari Majkich Brock
|Roger Kivela||Vice President/March 2020
|Steve Jurenes||Member/December 2023
|Rick J. Cannata||Member/Mayor|
|Patrick L. Garrity||Member/City Clerk-Treasurer|
|Tom Dicklich||City Administrator|
|Andy Borland||City Attorney|
|Candie Seppala||Sr. Executive Assistant|