401 East 21st Street
Hibbing, MN 55746
FAX: (218) 312-9730
Our Vision - Expansion of the Hibbing area economic base while maintaining high quality of life.
HEDA 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.
The Hibbing Economic Development Authority 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.