Does FROED charge for its incentive programs and services?
With the exception of nominal loan fees, FROED does not charge for its incentive programs and services.
How do I get more information about FROED incentive programs and services?
For more information, please call the office at 508.324.2620.
How does FROED accomplish its stated goals?
FROED offers aggressive business incentives including low-interest loans, tax exemptions, employee recruitment and training services, site selection assistance, and technical and consulting support.
Is FROED a government agency?
No. FROED is a private, nonprofit corporation that works in partnership with the City of Fall River to foster economic development. The office has a professional staff and an independent board of directors representing a cross-section of business and community leaders. The mayor serves as chairman of the board.
Is my inquiry confidential?
Yes. Businesses receiving financing from FROED may have their names and loan amounts published, but confidential financial information remains just that. However, TIF applications are public documents.
What is FROED’s mission?
Since its incorporation in 1978, FROED has worked to create and retain jobs in Fall River, and to increase and diversify the city’s tax base.
What types of loan products does FROED offer?
FROED offers a range of low-interest loan programs to help businesses expand in Fall River. The funds may be used for real estate, machinery and equipment, working capital, and soft costs such as advertising and accounting. FROED’s loans can be combined with private, state and federal funds.
What types of tax incentives does Fall River offer?
As an Economic Target Area, the City of Fall River is able to certify eligible projects and provide local Tax Increment Financing (TIF), a 5% state Investment Tax Credit, and in some cases, a 10% state Abandoned Building Tax Deduction. FROED manages the TIF program on behalf of the city.
Where is FROED located?
FROED’s offices are located on the 6th floor of Government Center, in the heart of Fall River’s historic downtown district.
Why is Fall River a good place to do business?
Fall River boasts an exceptional pro-business climate. The workforce is second to none, business costs are extremely low, there is a strong private-public partnership in place, and the city’s quality of life is outstanding. In addition, FROED has been providing the business community with aggressive incentives for more than 25 years.