Low Taxes and Financial Incentives

Looking for a quick and easy way to examine the cost of doing business in Hartford compared to that of other states? Follow this link to run the state comparison program. We are confident that you will be impressed by what you discover!

Primary Employment Incentives
The Hartford Economic Development will work to create an aggressive, customized incentive and financing package to assist with qualified projects. We will discuss the large variety of options to help you make your project a reality. Hartford Economic Development will also work with you to explore state and federal packages. For qualified projects, we will explore the following options as we work with you to find the best solution for your needs!

For Qualified Projects:

• Subsidized road construction
• Lower interest and subordinated loans
• Workforce training and development assistance
• Key employee relocation assistance
• Sales tax rebates for qualified investments
• 5 year graduated property tax abatement for new commercial or industrial construction
• Tax increment finance districts
• Creative financing strategies

Business Finance Programs

• Property Tax Abatement
  Minnehaha County has passed ordinances that allow both new construction or major additions and renovations to existing industrial & commercial structures to have a portion of their property taxes forgiven. Learn more about this substantial savings of property tax normally paid during the first five to six years following construction.
  
  
  • Year one taxes are based on 25% of the structure's taxable value.
  • Year two taxes are based on 50% of the structure's taxable value.
  • Year three taxes are based on 75% of the structure's taxable value.
  • Year four taxes are based on 75% of the structure's taxable value.
  • Year five taxes are based on 100% of the structure's taxable value.
  
  
  
• REED Fund
  The Rural Electric Economic Development Fund is a non-profit tax-exempt 501(c)(3) corporation, formed through the collaboration of rural electric cooperative members of East River Electric Power, Inc. Learn more about the Reed Fund.
  
  
• REDI Fund
  The State of South Dakota provides the REDI (Revolving Economic Development and Initiative) Fund to promote primary job growth in South Dakota. Start-up firms, businesses that are expanding or relocating and local economic development corporations are eligible for this low interest loan fund. View details.
  
  
• 502 Loan Program
  The 502 Loan Program is a service of the South Eastern Council of Governments (SECOG). SECOG serves the southeastern region of South Dakota and have provided staff support to local governmental entities for more than 30 years.
  
  
• MCEDA/RLF The Minnehaha County Economic Development Association Revolving Loan Fund (MCEDA/RLF) is to assist with the creation of economic growth within Minnehaha County, with priority placed on job creation. Learn More.