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Commerce Renews Renaissance Zone for Velva
Post Date: Nov 29 2021

The North Dakota Department of Commerce announced today it has renewed the Renaissance Zone Program for the city of Velva for five additional years.
 
The Renaissance Zone Program is a tool for community redevelopment and economic investment that incorporates tax incentives to business and residential properties. Velva started utilizing the Renaissance Zone Program in 2006 and has had 17 approved projects.
 
“Velva has used the Renaissance Zone Program to encourage reinvestment and redevelopment in its downtown area to enhance business and improve housing,” Commerce Community Services Deputy Director Rikki Roehrich said. “The program is often used in smaller rural communities to attract businesses that provide vital services to their populations.”
 
The Renaissance Zone Program currently includes 58 cities across North Dakota. Since the program’s inception in 1999, more than 1,850 projects have been approved and more than 1,450 have been completed.
 
For more information, contact Renaissance Zone Program Manager Rikki Roehrich at 701-328-2687. For tax related questions, please contact Liliya Montgomery at 701-328-1296.
 
For more North Dakota news and information, go to www.NDCommerce.com.
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