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There are a variety of funding programs used to assist businesses in Rice Lake. Many of the programs are developed with a focus on jobs creation. The City of Rice Lake will assist businesses working with State and Federal programs and often will combine multiple sources to maximize assistance.

Programs Administered Locally:

Tax Incremental Districts - These districts are created in order to provide a funding mechanism that allows for public infrastructure to be built, using revenue from the increased valuations in the district.


Programs Administered through the Wisconsin Department of Commerce include:

The CDBG-Public Facilities component helps eligible local governments upgrade community facilities, infrastructure, and utilities for the benefit of low- to moderate-income residents.

The CDBG-Public Facilities for Economic Development component offers grants to communities to provide infrastructure for a particular economic development project.

The Community-Based Economic Development Program is designed to promote local business development in economically distressed areas. The program awards grants to community-based organizations for development and business assistance projects and to municipalities for economic development planning. The program helps community-based organizations plan, build, and create business and technology-based incubators, and can also capitalize an incubator tenant revolving-loan program.

The Community Development Block Grant (CDBG)-Economic Development Program provides grants to communities to loan to businesses for start-up, retention, and expansion projects based on the number of jobs created or retained.   Communities can create community revolving loan funds from the loan repayments.
 


Programs administered through the Wisconsin Department of Transportation include:

The Wisconsin Transportation Facilities Economic Assistance and Development Program funds transportation facilities improvements (road, rail, harbor, airport) that are part of an economic development project.">

The State Infrastructure Bank Program is a revolving loan program that helps communities provide transportation infrastructure improvements to preserve, promote, and encourage economic development and/or to promote transportation efficiency, safety, and mobility. Loans obtained through SIB funding can be used in conjunction with other programs.

The Freight Railroad Infrastructure Improvement Program awards loans to businesses or communities wishing to rehabilitate rail lines, advance economic development, connect an industry to the national railroad system, or to make improvements to enhance transportation efficiency, safety, and intermodal freight movement.

Program administered by the U.S. Department of Commerce through the Department of Administration include:

PUBLIC WORKS PROGRAM - The Public Works Program empowers distressed communities in economic decline to revitalize, expand, and upgrade their physical infrastructure to attract new industry, encourage business expansion, diversify local economies, and generate or retain long-term, private sector jobs and investment.

 

 
Rice Lake Economic Development - 37 South Main Street - Rice Lake, WI 54868 - Phone: 1-800-523-6318 Fax: 715-234-2085 - rled@rice-lake.com
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