Our staff at the RADC provide the technical assistance to put together financial packaging, and business plan guidance for clients, existing and start-up businesses. We work in partnership with the Small Business Development Center in Marshall or the Center for Rural Entrepreneurship in Hutchinson to assist our clients with the best information so they can to make a sound business decision for their future.
Our Incentive Directory provides you with a complete listing of all the tools available for you to access for gap financing for deal flow assistance for your business financial package.
Agricultural Utilization Research Institute (AURI)
AURI was created to foster long term economic benefit through increased business and employment opportunities to rural Minnesota through:
The identification and creation of new markets fo...
What is economic development property tax abatement?
Minnesota law authorizes political subdivisions to grant property tax abatements
for economic development (e.g., to encourage a business to locate or expand at a locatio...
We offer a variety of programs and services to help:
jobseekers,
businesses,
local units of government and others.
You can navigate to the program you are looking for alphabetically unsign the link...
Minnesota's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include the Job Opportunity Building Zone Program, Minnesot...
The Minnesota Investment Fund Grant Program is designed to address critical economic development needs throughout the State of Minnesota. The program is administered by the Minnesota Department of Trade an...
There are several small business loan programs from SBA, USDA, EDA, etc offered through the State, Counties, Cities, Economic Development Agencies and non profit groups to create jobs and gro...
The Job Creation Fund (JCF) program is DEED's newest program to encourage job creation and capital investment in new or expanding businesses. The program provides job creation awards of u...
Through the Minnesota Jobs Skills Partnership program we work strategically with businesses and educational institutions to train or retrain workers, expand work opportunities, and keep high-quality jobs in the state.
THe Opportunity Zone program was approved on May 18th and in Rdwood County we have one zone that was approved which is located west and south of Redwood Falls! Clic...
PACE is a financing tool that helps for profit businesses do energy efficiency retrofits on their property. The premise of the program is that the business does not see ...
Prairieland EDC is a private non-profit corporation organized in 1983 to deliver the U.S. SBA 504 program. Today, Prairieland EDC is a SBA 504 Premier Certified Lender. As a non-traditiona...
The REED Fund provides financing and helps leverage investment in small communities and rural areas, targeting projects that will promote growth and contribute to job creation, wealth creation and improvement...
Prairieland EDC can potentially finance a total of 90 percent of the project between the bank and the SBA (10 percent equity requirement). The SBA offers a 10- and 20-yea...
The Small Business Administration (SBA) 7(a) Guaranteed Loan Program provides conventional lenders with guarantees of up to 90% for loans made to qualifying businesses for purposes of fixed asset o...
A strong, diverse economy that capitalizes on existing assets in the region is a key to a prosperous future for southwest Minnesota. For more than 20 years, the Southwest Initiativ...
The Southwest Minnesota Housing Partnership is a non-profit community development corporation serving thirty counties in rural Minnesota. We aim to build strong and healthy places to live so that th...
Southwest Regional Development Commission
Revolving Loan Fund Program
PROGRAM PURPOSE
The purpose of the SRDC Revolving Loan Fund (RLF) is to directly loan funds to assist existing retail, service, manufacturing, and distribution businesse...
A strong, diverse economy that capitalizes on existing assets in the region is a key to a prosperous future for southwest Minnesota. For more than 20 years, the Southwest Initiativ...
The Micro-Loan Program of the Southwest Minnesota Foundation (SWMF} was developed to provide loans to small local businesses. The creation of new jobs is a primary consideration in funding a...
Tax increment financing uses the increase in property taxes generated by new development to finance qualified public improvement costs related to that development. The difference between the current property ta...
Category: Business Finance Options, Tax Incentives
Since Redwood is a rural county, its businesses are eligible for loan guarantees from the United States Department of Agriculture (USDA). These range from 80% loan guarantees for loans o...
Loan Criteria and Definitions
1. Eligibility:
Eligible businesses may be either start-ups or expansion projects. The type of businesses include, but are not limited to, those engaged in:
Technologically innovative industries
Value added manufacturing
Agri-processing
Informatio...
An exciting funding opportunity for rural small businesses across the State exists: The USDA Rural Development's Rural Energy for America Program (REAP) grants. These grants can pay for up t...
The purpose of the Wabasso EDA RLF is to provide gap financing for new and/or existing businesses, and/or retention of significant jobs with viable plans for making improvements, locating o...
Category: Revolving Loan Fund
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Redwood Area Development Corporation assisted Knott’s Corner Bar & Grill with a loan that was used to purchase the equipment and furniture that came with the business. RADC builds relationships with businesses like Knott’s Corner, and together, they improve the communities of Redwood County. Being located in Redwood County has many benefits for bar and grills like Knott's Corner.
Building relationships has always been a key component of Minnwest Bank’s business platform. They strive to build long term commitments to customers in order to better support the dreams and goals of the local farm and business community.
"Our approach is that the entity is the expert in the subject matter, and we’re providing expertise to help them be successful with the grant application process."
The Lower Sioux Indian Community has seen stellar improvements in tribal health in recent years with the addition of a health care center that offers a large scope of medical services. The Lower Sioux, part of the Mdewakanton Band of Dakota, is a federally-recognized tribe located in Redwood County. In seeking to maintain whole health, safety, and happiness for the community while also staying true to traditional values of the Dakota, the idea for the Lower Sioux Health Care Center was born.
The long term health of Redwood Falls is very important to me. I didn’t move back here to see the town die,” Madsen says. “I think it’s important to make wise decisions about how we support business and attract new business.” For years, we’ve heard about “brain drain,” the phenomenon where young folks leave rural towns to attend college and pursue better opportunities in cities. But research into Minnesota’s shifting rural demographics now shows a positive reverse trend of “brain gain” — where young adults migrate back to their hometowns with families in tow and expertise to offer.
Projections indicate that Minnesota may have 400,000 unfilled jobs by 2024 due to a wave of Baby Boomer retirements and a shortage of skilled workers to take their place. While two-thirds of these jobs require post secondary education or training, a four-year college degree isn't always necessary.
Thanks to a generous donation from philanthropist Orrin Estebo, the Redwood Falls Area School District will have the tools to proactively address the imminent workforce skills gap to ensure talent needs are met in areas like manufacturing, construction and healthcare.
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