The Matanuska-Susitna Borough offers several incentives to Mat-Su businesses including Sale and Leases at Less than Fair Market Value, Industrial Revenue Bonds, Business Development Assistance, and Fast Track Permitting.
Types of Incentives
Sale and Leases of Borough Owned Land
The Matanuska-Susitna Borough is a major landowner and has several key industrial sites, including the Port MacKenzie marine and industrial complex. Qualified new businesses may apply to purchase and/or lease land owned by the Matanuska-Susitna Borough at existing industrial sites or on other land owned by the Borough.
Industrial Revenue Bonds
Industrial Revenue Bonds (IRB) are tax-exempt bonds that may be offered by the Borough on behalf of private companies. Since interest payments to IRB buyers are not subject to federal income tax, the bonds can be sold at lower rates of interest. This status reduces the financing cost of a project.
Business Development Assistance
The highly successful MAT-SU Small Business Development Center (SBDC) is a cooperative effort of the University of Alaska and the Matanuska-Susitna Borough to foster new and existing business development. The MAT-SU SBDC offers business-consulting services free of charge. Examples of the assistance provided include business plan development, accounting, marketing, etc. Additionally, the MAT-SU SBDC provides assistance in identifying business loan and grant possibilities and helps firms complete and file the associated loan and grant applications.
The MAT-SU Small Business Development Center is located at:
201 N Lucille St, Ste. 2A
Their telephone number is (907) 373-7232
Fast Track Permitting
The Matanuska-Susitna Borough understands that time is money and is therefore committed to reducing barriers and paperwork that may stand in the way of private investment projects. Permits and licenses can generally be approved within 60 to 90 days from the time the private enterprise submits a completed application. The Assistant Borough Manager acts as an ombudsman for the firm to assist and move the project along in a timely manner.
Infrastructure & Site Development Assistance
Cooperative efforts with the State of Alaska and Federal Governments
The Matanuska-Susitna Borough enjoys a good relationship with the various agencies of the State of Alaska and federal governments. These agencies provide access to revolving loans, new start-up financing, loan guarantees, grants and technical assistance. The Borough will provide assistance to private enterprises seeking assistance from both state and federal agencies. In addition, the Borough provides suggestions on potential state and federal financing that may be available to new or expanding businesses.
For the various new business and employment creation incentives offered by the Matanuska-Susitna Borough, submit a cover letter to the Borough Manager at 350 E. Dahlia Avenue, Palmer, Alaska 99645, describing your new or expanding business and desire to locate in the Matanuska-Susitna Borough. A pre-application meeting will be arranged within five (5) days of receipt of your request. At the pre-application meeting, the available incentives will be explained, as well as the application and approval process.
Guidelines for qualifying for the various incentives take into account the following:
- Economic diversification potential
- Import substitution potential
- Agglomerative economies potential
- Public and Private sector capital commitment
- Feasibility of project completion
- Ability of applicant to repay, if required