A proposal to provide state grants for large agricultural development projects has passed the North Dakota House of Representatives with strong support. The bill, House Bill 1332, directs and allocates incentive funds for large, value-added agricultural facilities through the agricultural diversification and development fund. The proposal, focused on a potato processing facility in Grand Forks, has received unanimous approval from the House Appropriations Committee.
A Belgium-based potato company, Agristo, plans to build a $450 million facility in Grand Forks, which would be its first American plant. The city has proposed a 20-year, 90% property tax incentive for the project. If approved, the company’s property tax bill would be reduced for 20 years before returning to normal. The proposal includes a $30 million grant from the state agriculture commissioner, to be paid in two parts.
The facility is expected to revive potato acreage lost over the past few decades in the region and provide economic support to not just Grand Forks but also the northeast part of the state. If successful, the project could have a significant impact on the state’s agricultural sector.
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