By Joshua Schuetz

In September 2022, Bremer Bank, then the only bank in Eyota, announced that it would close its branch in the city at the end of the year. Following the announcement, the Eyota EDA board told CEDA team member Cathy Enerson that her “only job at this moment was to concentrate on bringing a new bank to town.”

As discussions with the five banks progressed, Enerson said another issue arose, namely a lack of space for a temporary bank location in the city. Enerson contacted Bennett Foods, a local grocery store, and asked if they would be willing to put their plans for adding liquor sales on hold to host a new bank. Leadership at Bennett, seeing the value and need for a bank to come to the community, agreed.

Enerson and the EDA board got to work, crafting a narrative, and interviewing five bank chains in southeast Minnesota. Enerson collected data on local deposits, making the case that they were significant enough to warrant the opening of a bank branch in Eyota. In this, she was joined by Eyota’s mayor, Tony Nelson, EDA chair, Dale Heintz, and City Clerk, Marlis Knowlton.

Foresight Bank, of Plainview, owned by Cassie and Will Harrington, sent in an application to the state of Minnesota, requesting permission to open a bank branch in Eyota.

Enerson said the local community deserves recognition for helping to bring the new bank to town. Prior to Foresight’s formal application to the State, key depositors, as well as prominent figures in the community took the initiative to either hold meetings or conduct phone conversations to express support for Foresight’s establishment in Eyota. Through these interactions, these community influencers effectively conveyed to Foresight that their presence was not only desired but also assured of strong backing. Their efforts underscored the message that Foresight would find both a warm welcome and steadfast support within the Eyota community.

In July 2023, Enerson and the EDA board cut the ribbon on Foresight’s new branch in Eyota. Enerson expressed her thanks to the bank’s owners for bringing a much-needed resource to the city.

“Foresight Bank choosing to open a branch in Eyota was an emotional journey as well as an important win for the city of Eyota EDA,” Enerson said. Thank you, Will and Cassie Harrington, for choosing to expand into Eyota.”

By Joshua Schuetz

In many communities, revolving loan funds play a pivotal role in the success of new ventures, ranging from small startups to housing projects. As CEDA expands its services to more communities, ensuring that team members understand the intricacies of loan operations becomes crucial to their success.

Mitch Massman, the new Director of Loan Operations at CEDA, is stepping in to address this need. Massman, who was promoted to the position in August, mentioned that he will assist in operating CEDA’s revolving loan fund and guiding new team members through queries about financial analysis and loan underwriting.

“It’s something I’ve worked on before with Ron Zeigler and Chris Giesen,” Massman said. “Part of my role will involve working on loans from our revolving loan fund, while another aspect will be developing training programs for new CEDA staff.”

CEDA’s revolving loan fund offers businesses in contracted CEDA communities the opportunity to secure up to $60,000, provided they demonstrate a need, present a complete business plan, and prove their capacity to repay interest and principal over the loan period.

Massman will also seek funding for programs that can be implemented in CEDA communities. Regarding individual projects in CEDA communities that involve loans, Massman said he can provide feedback and financial analysis to colleagues who lack experience in finance.

“It can be any project—if one of our team members doesn’t know how to underwrite a loan and interpret those numbers, I can come in and assist,” Massman said. “The position isn’t about me personally handling every loan in every CEDA community, but rather about helping new colleagues who lack experience in the field.”

Massman added that, to enhance the financial acumen of team members, training programs will be developed and offered as part of CEDA’s onboarding process.

“Our plan is to develop finance training and conduct them towards the end of the mentorship program. At that point, I’ll work with them using examples of loans I’ve dealt with in the past, making it a hands-on experience,” Massman said. “I’m excited about this position and how it can empower our team members to better serve their communities from a financial standpoint,” Massman concluded.

By Joshua Schuetz

The 2020s have been a challenging decade for cinema: the COVID-19 pandemic and the rise of online streaming have dealt theaters a one-two punch from which many have not recovered, especially single-screen theaters in small communities.

CEDA team member Courtney Bergey Swanson, who serves as Spring Grove’s EDA director, and a group of community members from Spring Grove received $25,000 in funding from the Department of Public Transformation, a nonprofit headquartered in Granite Falls, MN, to help sustain the city’s local movie theater and create new ways to use the space in service of the community.

Spring Grove Cinema is now part of the inaugural cohort of the nonprofit’s Activate Rural Program, which funds projects that rehabilitate amenities in small cities to better serve their communities.

“It’s a unique project because the Spring Grove Cinema is owned by our local telecommunications cooperative,” Bergey Swanson said. “A group of local leaders were thinking about ways to attract more families to town, and they encouraged Spring Grove Communications to invest in building a new movie theater downtown in 2009.” Unfortunately, with the changing times, not as many people are coming to the theater as they used to, and the cinema sits unused for much of the week, relying on its Friday, Saturday, and Sunday showings to make ends meet.

“What we proposed is that we believe there’s a way to use the cinema to activate the space more than a couple of nights per week,” Bergey Swanson said.
As part of the program, the Cinema is working on a partnership with the local school district to create a design lab on an unused upper floor of the building. This lab, Bergey Swanson explained, will give local students a chance to not only learn valuable design skills but also shape media in their community.

“The goal would be for students to work on programming that appeals to their generation, like gaming on the big screen, or TikTok film festivals, or retro cartoon Saturdays—things that are not super common in a regular theater,” Bergey Swanson said.

The grant consists of $25,000 in funding for programming over the course of two years. Spring Grove recently had its site visit for the cinema, as well as a retreat with other awardees, which gave Bergey Swanson and other members of the project’s core team the chance to share ideas with other grantees working on similar projects.

“Our next step this fall is to start some of the programming for the grant, where we will put things on paper, advertise them, and start getting people in the door,” Bergey Swanson said.

Our very own CEDA Employee, Courtney Bergey-Swanson, has been spotted in this article and news clip on KTTC.

Original Article and video clip: https://www.kttc.com/2023/08/11/senator-smith-visits-spring-grove-highlight-rural-economic-development/

By Joshua Schuetz 

Rural Minnesota is currently grappling with a labor shortage, as businesses find themselves with more job openings than they can fill. Simultaneously, graduating students are in need of assistance to acquire the skills necessary to fill those vacancies.

In response to this challenge, CEDA has taken the initiative with its Workforce Coordination Program, which is currently implemented in multiple school districts across the state. The program is supported through a partnership with South Central Service Cooperative.

Operating as a vital link within the community, CEDA’s Workforce Coordinators serve as liaisons between high schools and local businesses. Their efforts are focused on developing career training programs, organizing job shadowing sessions, and facilitating events and courses that educate students about the abundant job and career opportunities available to them locally.

A recent example of the program’s impact was seen when CEDA team member Emily Davis organized a “Game of Life” event at the Blue Earth Area School District. This engaging event, inspired by the popular board game, provided students with a taste of the costs and efforts required to lead successful lives in the real world. Additionally, CEDA team member Honey Burg collaborated with the St. Peter School District’s Education Equity Advisory Council to identify more career pathways for students from diverse backgrounds and enhance inclusivity within the district. CEDA team member Amber Patten, meanwhile, connected students and local businesses at a Career Morning event at the Lake Crystal-Wellcome Memorial School District.

Through effective communication and sustainable practices, the coordinators market the program across various channels, including websites, social media, and local organizations.This proactive approach raises awareness and generates interest among potential participants.

The program’s success relies on the collection and analysis of relevant data. To this end, the coordinator maintains a centralized database of business partners and volunteers. By closely monitoring metrics and milestones, the program’s effectiveness is assessed, allowing for informed decisions and continuous improvement.

CEDA&’s Workforce Coordinator Program not only empowers students to pursue opportunities within their communities, but also enables them to make meaningful contributions to the local economy. By bridging the gap between schools and businesses, this program lays the foundation for a brighter future where young talents can flourish and shape the destiny of rural Minnesota.