Role in Economic Development
Forty percent of the one percent tax is earmarked for economic development and is used to help finance relocations, start-ups and expansions in the Minot area. Minot Area Development Corporation, the lead economic development agency for the city of Minot, targets primary sector businesses such as those in value-added agriculture, knowledge-based business and the energy industry. The availability of MAGIC funds makes Minot more appealing to businesses. The MAGIC Fund is very progressive in that it was one of the first growth funds in the state of North Dakota and the first one to be used regionally.
Read more about this topic: MAGIC Fund (Minot)
Famous quotes containing the words role, economic and/or development:
“Scholars who become politicians are usually assigned the comic role of having to be the good conscience of state policy.”
—Friedrich Nietzsche (1844–1900)
“According to our social pyramid, all men who feel displaced racially, culturally, and/or because of economic hardships will turn on those whom they feel they can order and humiliate, usually women, children, and animals—just as they have been ordered and humiliated by those privileged few who are in power. However, this definition does not explain why there are privileged men who behave this way toward women.”
—Ana Castillo (b. 1953)
“I could not undertake to form a nucleus of an institution for the development of infant minds, where none already existed. It would be too cruel.”
—Henry David Thoreau (1817–1862)