|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||1||$125,000|
On February 3, 2016, the community of Madelia, Minnesota suffered from a devastating fire that destroyed eight businesses in the heart of its downtown. These businesses represented a combined 106 years of service to the Madelia community and were responsible for a combined $3 million in sales volume. A total of 37 service sector jobs were lost, accounting for nearly 19 percent of all service sector jobs in the community. Madelia is faced with the challenge of creating a more resilient economy that is sustainable and more diverse.
To reach that goal, Region Nine Development Commission (RNDC), an EDA designated Economic Development District, devised a Marketing Strategy and Economic Development Resiliency Plan. In October 2016, EDA invested $100,000 in Technical Assistance funds to the RNDC on behalf of the City of Madelia to develop an economic recovery strategy for the City. The $100,000 EDA grant was matched by the State of Minnesota. With the combined $200,000, the RNDC-led project is rebuilding with an emphasis on improving its brand to bring in new investment opportunities.
The project is currently underway with an anticipated completion date of September 2018. The project aims to attract new businesses, industries, and entrepreneurs. It additionally is expected to increase direct investment into the community, retain jobs, attract new high-wage jobs, and leverage public and private partnerships.