The Rural Economic Development Incentive (REDI) program is designed
for businesses creating new high paying jobs in counties of the fourth, fifth
or sixth class (populations of less than 31,000).These jobs can be remote, in a
satellite hub / office, or physically located in the same county as the
business.
Who is eligible?
Businesses not primarily engaged in construction, retail, staffing or
public utilities industries are eligible to apply. A business considering the REDI grant must
apply for and receive approval through GOED in advance of creating a new
position.
The company will enter a written agreement with GOED and must
demonstrate that the new jobs:
- Are
created in addition to the highest baseline count of employment positions that
existed within a business entity during the previous taxable year
- Pay at least 125 percent of the average county
wage
- Are filled by an employee who works at least 30
hours per week
- Will exist for at least 12 consecutive months
- Are not filled by an immediate family member of
an officer or owner of the company
Incentives:
A business entity may qualify for up to $25,000 in rural employment
expansion grants each fiscal year.
Potential
Allocation Award Amounts:
- $4,000 for
each new full-time employee position in a county where the average county wage is equal to or greater than the state average wage
- $5,000 for
each new full-time employee position in a county where the average county wage is between 85% and 99% of the
state average wage
- $6,000 for
each new full-time employee position in a county where the average county wage
is less than 85% of the state average wage
The REDI
Grant Levels Table provides county-specific information.