The City of Fremont invests Local Option Economic Development Plan funds for the purpose of attracting new industries and retaining or expanding existing businesses in Fremont. Funds are offered to businesses in the form of low or 0% interest loans and performance-based forgivable loans (grants), based upon creation of new jobs and investment in Fremont. Job creation criteria are detailed in the application, including wages and benefits. Businesses must provide matching funds for the project.