Statement from the Department of Commerce's North Dakota Development Fund

Statement from the Department of Commerce

Recently, there have been questions posed about the mission, practices, and impact of the North Dakota Development Fund, Inc. (NDDF) and overall Department of Commerce related to economic development activity. We want to clarify the role of the NDDF and underscore its dedication to serving the citizens of North Dakota.

NDDF’s Role in our State’s Financial Landscape

The NDDF provides “flexible gap financing” through loans and equity investments not available from most conventional lenders for the purpose of economic development. Funds are available to new and expanding North Dakota primary sector businesses. The NDDF is committed to fostering growth across North Dakota by supporting local businesses and attracting new ventures that contribute to a vibrant economy. The NDDF’s work directly benefits North Dakota communities by creating jobs, promoting innovation, and supporting the industries that are the backbone of our state.

Read the full statement here.