Hibbing Economic Development Authority (HEDA)
Expansion of the Hibbing area economic base while maintaining high quality of life.
Hibbing Economic Development Authority (HEDA) Responsibilities
- H.E.D.A. 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.
- H.E.D.A. coordinates a Loan Program for construction or equipment with the Minnesota DEED, IRR or other area lending institutions, allowing for tremendously flexible terms.
- 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.
HEDA Business Loan Guidelines & Application
The Hibbing Economic Development Authority (HEDA) has developed a business loan program with the expressed purpose as follows: "to assist in the creation and maintenance of productive, permanent skilled employment" through the establishment of new or expanding private sector business located within the City of Hibbing.
- Visit the HEDA Business Loan Guidelines and Application website.
- HEDA Covid-19 Business Assistance Loan Guidelines and Application