Agristo Potato Processing Facility Development

planned

The project involves the development of a potato processing facility by Agristo in Grand Forks, North Dakota. The state has secured a $30 million forgivable loan to attract the facility, with additional city investment of $30 million in infrastructure to prepare the Foo Phong site for development. The site has been rezoned to industrial use and improved with infrastructure, increasing its value. The project includes a proposed 20-year tax incentive with a 90% tax exemption to compete with Wisconsin's incentives. Agristo is expected to finalize land purchases and begin construction by spring following environmental design and permitting processes. The first phase is estimated to cost between $450 million and $500 million.