Financial Incentives

Q. What financial incentives are offered to businesses considering relocation to or expansion in the Navajo Nation?

A. Navajo people: One of the Nationís greatest incentives is our People. A non-migrant work force whoís home is the reservation! The Navajo people are an enthusiastic and very capable labor pool. Jobs are highly prized. More than 62% of the Navajo people are under the age of 30, providing a young labor force.

Financing: A variety of financing alternatives are available to businesses seeking to establish operations within the Navajo Nation. The Navajo Nation, as a federally recognized Indian Tribe, is eligible to apply for certain Federal grants, loans, and loan guarantees that could be used for capital improvement and other aspects of any particular project. Thus companies who locate to the Navajo Nation may qualify for Federal and State incentive and financing programs. This is dependent on which state the company locates on our reservation. The Navajo Nationís Division of Economic Development staff is ready to assist you in any way they can to provide you with each stateís incentives programs should you locate to our Reservation.

Navajo Nation Business and Industrial Development Fund: In 1988, the Navajo Nation established a Business and Industrial Development Fund to encourage industrial, commercial and tourism projects on the Reservation. Contact Phil Scott, Chief Financial Officer at (928) 871-6704 for a loan application.

Small Business Loan and Micro-Loan Fund: The Navajo Nation Small Business and Micro-Loan Fund was established to encourage Navajo small business on the Reservation. Contact the local Regional Business Development Office located in Shiprock, New Mexico; Tuba City, Arizona; Chinle, Arizona; and Window Rock, Arizona; or contact Mr. Phil Scott, Chief Financial Officer, at (928) 871-6704 for a loan application.

Private Financing: The Navajo Nation favors private financial investment. The Nation is tenant-friendly and fully negotiable depending on any improvements to the business site or building and/or the number of Navajos to be employed. Lease terms range from 5 years to 99 years.

Training: There are vocational programs at several colleges in the region to supplement the ample skilled and semi-skilled labor force. The Department of Employment and Training provides employers with several programs such as Federal JTPA employment and training program, On-The-Job Training program, and the Works Experience Program to name a few. A summary of the variety of programs is included in the Navajo Nationís promotional packet.


Q. How many banks are there on the Navajo Nation?

A. Three: There are Wells Fargo branch banks in Chinle, Kayenta, Tuba City and Window Rock, AZ; and one in Shiprock, NM. There is also Bank of America near the Navajo reservation border. There is also the First American Credit Union in Window Rock, AZ.


Q. What are the banks' total assets?

A. Figures are not available.



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