Making Greater Minnesota an attractive environment for growth is critical to creating jobs, improving living standards and financing necessary public services.
RDOs are agencies that have been designated by the United States Department of Commerce, Economic Development Administration as Economic Development Districts. Each RDO develops and maintains a Comprehensive Economic Development Strategy, provide funding programs, and technical assistance for their region.
Examples of the impacts made by RDOs include:
The Headwaters Regional Development Commission’s nonprofit subsidiary corporation, Headwaters Housing Development Corporation, has been involved in housing development for many years. The organization has developed more than forty single-family homes in partnership with the Bemidji High School over the past twenty years. This partnership has provided an opportunity for enhanced technical skills of the participating high school students and helped the community address its workforce housing needs.
Medical Device Study
The study, MedTech Connect, examines how and how well manufacturing and related industries leverage their geographic proximity to the medical manufacturing hubs in Minnesota. Region Nine Development Commission’s work aims, through a variety of methods, to make recommendations that will enable regional firms to optimize integration and alignment with the larger supply chains.
Revolving Loan Fund
All MADO members provide Revolving Loan Fund (RLF) programs that have aided in the development of their region’s economy. As of July 2018, there has been a total of 1,386 loans through these programs, totaling just over $82 million. These loans have leveraged approximately $782 million in funds. A total of 24,000 jobs have been created and retained as a result. Please visit member websites to learn more about their RLF programs.
The East Central Regional Development Commission‘s status as a federal economic development district, and a valuable collaboration with Pine Technical College and GPS 45:93, proved valuable in securing nearly $2.2 million recently toward the construction of the Entrepreneurship Center and Technology Business Incubator at Pine Technical College in Pine City. This project also represented a unique and successful financial partnership between DEED, PTC, and the federal EDA. The Center offers a number of professional services for startup business at free or reduced costs. The college’s customized training program is also co-located in the facility. Approximately 7,800 squ. ft. of adaptable “incubator” manufacturing space is available for new high-tech startup businesses.
Twelve aerospace companies in Duluth have sought the assistance of Arrowhead Regional Development Commission in determining the merit of working together to create economic opportunities through collaboration.