New Business Incentives
Are you interested in starting a business in Rosemount? We have a number of tools and resources available to help! Click the tabs below to learn more.
- Business Subsidy Policy
- Open to Business
- Tax Increment Financing
- Shovel Ready & Xcel Certified Sites
- SAC Deferral
The Business Subsidy Policy outlines the criteria for either tax increment financing or tax abatement. Please see either of these tax incentive policies for detailed information.
Rosemount partners with the Dakota County CDA and the Metropolitan Consortium of Community Developers to offer the Open to Business Program. Business Advisor Natalie Mouilso offers one-on-one business counseling and personal assistance for entrepreneurs and business owners at no cost. Natalie will work with you to develop a strong business plan, identify challenges and opportunities for your business, and tailor solutions to your business questions. She can also help determine financial needs and identify and apply for financing that will meet those needs.
The purpose of this policy is to establish the City of Rosemount’s position relating to the use of tax increment financing (TIF) for private development above and beyond the requirements and limitations set forth by state law. This policy shall be used as a guide in the processing and review of applications requesting tax increment assistance.
- Shovel Ready Sites: The City has designated an area of the community for business park use, south of County Road 42 and east of Highway 3. There are over 150 acres of land already preliminarily platted and available for immediate business park development. A 52-acre site in the Rosemount Business Park is one of the first in the state to receive Minnesota's shovel-ready designation.
- The City of Rosemount partnered with Xcel energy in the Certified Sites Program. This partnership follows a robust and credible certification protocol that includes reviews of the due diligence on the property and infrastructure, including any required studies. Rosemount has three total Xcel Certified Sites totaling over 500 acres for commercial and industrial projects. Learn more about the UMore Park, Opus, and Business Park sites by visiting Xcel’s interactive site.
In 2015, the City Council approved participation in the Met Council Sewer Availability Charge (SAC) deferral program. The charge is required by Metropolitan Council Environmental Services for new development. The fee is structured so that businesses using a lot of water, such as restaurants, owe a higher fee – sometimes tens of thousands of dollars that must be paid before a business can open its doors. The City now has qualifications for businesses to apply for a deferral, typically to stretch out its SAC payments over five years.