The Growth Initiative Fund approved the following PACE loan during third quarter 2012:
Cargill in West Fargo, N.D. announced a $60 million investment into plant upgrades. The facility employs 85 full-time employees and operates 24 hours a day, 7 days a week.
The GIF is a community revolving loan fund managed by the GFMEDC. It was established in 1993 and capitalized by property taxes from Cass County, the City of Fargo and the City of West Fargo over the period of 1993 – 2001. Those funds continue to be reinvested. The purpose of the GIF is to assist the GFMEDC in achieving its mission of retaining and expanding primary-sector employment.