The Stewartville Economic Development Authority continues to look forward and invest in the community. “With FedEx Ground building a 60,000 square foot distribution center in the Schumann Business Park, Rochester Medical adding an additional 50,000 square foot building, and many other smaller but positive happenings in Stewartville over the last year the EDA wants to make sure the community is ready for continued growth.” said Community and Business Development Specialist and the Stewartville EDA’s CEDA representative. “Right now the EDA is focusing on marketing the community. They want to take advantage of all the positive press that’s being generated by recent FedEx and Rochester Medical expansion news. The EDA is also looking at future residential needs that will result from the 100 or more new jobs in town over the next 18 months or so.” Giesen continued.
To help spur additional private interest in city economic development properties, the EDA established a finder’s fee for licensed real estate brokers when they bring a client to the EDA that results in the sale of a city-owned economic development property. Qualifying brokers can receive up to 5% of the final sale price of the land.
In addition to marketing, the Stewartville EDA also recently renegotiated its development agreement with Henry and Luella Schumann. The agreement will continue the city’s unique development role in the Schumann Business Park for another four years.