Montevideo Economic Development Authority

Services of the Montevideo Economic Development Authority

The Montevideo Economic Development Authority(EDA) provides technical and financial services to assist in business start-up, expansion, and acquisition projects. The EDA will customizes the assistance based upon the specifics of your project. 

Community, Management, and Development Information – The EDA will contact appropriate local information resources to help meet your community information needs including schools, housing availability, community activities, health care, government, business listings, and available demographic data. The EDA will assist you in locating available management and development data/information related to your project, including utilities, telecommunications, labor market information, transportation, traffic counts, and any other general or specific information for your project. 

Building and Site Availability – The Building and Sites Committee of the EDA & MIDC provides technical and research assistance in the acquisition of available commercial and industrial buildings in the community, plus available land for development. 

Government Liaison – The EDA will assist you in making contacts to government agencies related to planning and zoning, building inspection, and other regulatory entities. The EDA will assist you in these processes when possible to help streamline procedures. 

Financial Assistance – The EDA, MIDC, and MCDC provide assistance in the development of an appropriate financing package for the total project. The Community Development Agencies have extensive experience in developing packages using local and area loan programs as a supplement to private lending, including the Montevideo Community Development Corporation, Western Minnesota Revolving Loan Fund, Southwest Minnesota Foundation, Prairieland Economic Development Corporation, Minnesota Department of Trade and Economic Development, and the US Small Business Administration. 

EDA Snapshot

 

Type of Entity: Public

Type of Meeting: Must Follow Open Meeting Laws

Meeting Schedule: 3rd Tuesday of the month | 7:00am City Hall

Board of Directors: 7 Directors | Serving 6 – year terms

Specialization: Gap financing primarily for retail, commercial, service and programming.

 

EDA Mission Statement

"To increase the amount of investment, seek to generate productive employment opportunities, increase personal and business income, improve the economic base, and enhance the quality of life in the Montevideo Area Community." 



FOR MORE INFORMATION CONTACT THE CITY OFFICES AT 320-269-6575