Duluth bank offers free building for jobs
DULUTH — Looking for a place to launch or grow your business?
Here's an offer you can take to the bank.
Park State Bank, that is. Park State decided to leave its original flagship building there in December, consolidating operations at a newer facility.
In an effort to fill the now-vacant structure, bank president Dale Lewis announced plans Thursday to offer up to two years of rent-free tenancy inside the 1,900-square-foot building to any business that takes over the space and brings at least six jobs to the location.
It won't be a completely free ride, however. Park State Bank does expect the future tenant to pick up the tab for energy bills.
Lewis said she obviously hopes to attract a tenant who will choose to stay in the location after two years but won't require an obligation. Mostly, she aims to avoid watching the property decay.
''If it sits empty, it does nothing for no one," she said. "All it does is deteriorate in value when it's empty."
West said the bank's offer could be especially attractive to an entrepreneur trying to conserve precious capital. He noted the rent savings alone could easily amount to $20,000 to $25,000 annually.
''That's a nice chunk of change for a start-up, or even an existing business," West said.