The City Council of Howard Lake has been proactive in assisting companies by providing financial incentives. The following consists of two local incentives offered to prospective businesses of Howard Lake: Tax Increment Financing: The City of Howard Lake has used Tax Increment Financing to stimulate redevelopment within the Downtown area and promote jobs in the City’s Industrial areas. The City currently has TIF available in Howard Lake Industrial Park West and will consider this type of incentive for redevelopment projects that promote the revitalization of the Downtown area. Low Interest Loan Program-Voyager Fund: The City has established a low interest loan program called the Voyager Fund and is available to assist businesses of Howard Lake. The Fund was created for the purpose of assisting a variety of businesses, primarily by providing financial assistance for growth and expansion. To qualify, a business must be creditworthy, be located within the city limits, and have a project that meets one of the following objectives: Creation or retention of permanent private sector jobs in order to create above-average economic growth; Stimulation or leverage of private investment to ensure economic renewal and competitiveness; Increase to the local tax base Improvement of employment and economic opportunity for residents of the city that will increase their standard of living; and Stimulation of productivity growth through improved manufacturing processes or new technologies.