Parkers Prairie Economic Development
Revolving Loan Fund:
The City of Parkers Prairie has economic development money available to qualified business. The fund has been established to provide matching loans to businesses.
Revering Group, LLC
Leading the way in Parkers Prairie business development.
The Revering Group of Parkers Prairie is working closely with City of Parkers Prairie leaders in promoting economic development and is actively recruiting businesses to Parkers Prairie.
On the city’s east side, the George C. Revering Industrial Park is slated for a variety of manufacturers and businesses. Five parcels of land–totaling approximately 50 acres–are available and approved for tax increment financing and include:
- Broadband High-Speed Data
- All-Weather Road
Parkers Prairie Area Development Association will assist businesses who qualify with low interest, short term (three year) transition financing. The Corporation will consider requests for a waiver of payments for up to 12 months. The City will consider TIF for specific projects. Contact Shorty Revering with Revering Group for information about the Parkers Prairie Area Development Association.
The infrastructure is in place. All we need is you! Come and realize your dream. Contact the Revering Group for more information.
Work Force – Parkers Prairie boasts a work ethic that is second to none, and a skilled labor force drawn from neighboring communities. While agriculture is still a big part of who we are, there are many skilled workers in technology and manufacturing, and businesses already in place providing goods and services to the world.
Cost of Living – With a smaller community comes a lower median average cost of homes and property, not to mention a lower tax base. Find out for yourself how affordable life and business can be here.
Community Support – Not only will you experience financial support from local lenders, but you’ll also feel the support and enthusiasm of the people here. We want you to succeed, grow, and expand because it benefits all of us.
Police and Fire – This community of about one thousand people has its own police department in addition to a well-trained volunteer fire and rescue department that has been recognized as one of the top departments nation wide among communities this size.
Recreation – Outdoor fun is abundant here. Escape to any of the hundreds of lakes within a half-hour radius of town. Wrestle with a walleye, swim, or water-ski. Enjoy great hunting while in season. Better yet, take a friend and hike up nearby Inspiration Peak–Minnesota’s highest point–a glacial mountain formed thousands of years ago. Do you like winter fun? Thousands of miles of snowmobile trails are traveled by sportsmen and women each year.
What is TIF Tax Increment Financing (TIF)?
TIF is a tool to use future gains in taxes to finance current improvements (which theoretically will create the conditions for those future gains). When public projects such as a road, school, or infrastructure improvement are carried out, there is often an increase in the value of surrounding real estate, and perhaps new investment (new or rehabilitated buildings, for example).
This increased site value and investment sometimes generates increased tax revenues. The increased tax revenues are the “tax increment.” Tax Increment Financing dedicates tax increments within a certain defined district to finance debt issued to pay for the project. TIF is designed to channel funding toward improvements in distressed or underdeveloped areas where development might not otherwise occur. TIF creates funding for “public” projects that may otherwise be unaffordable to localities, by borrowing against future property tax revenues.