Economic Development in Wadena County
22 Jan 2014
County Economic Development
Wadena County Townships, as stated by Wadena County Assessor, Lee Brekke, have a total of 137 commercial properties with a total market value of $5,912,500. Each of these 137 commercial properties pays property tax, and to lose even one business would increase the tax burden to everyone in Wadena County. Conversely, any new business choosing to locate within the boundaries of Wadena County would lower the tax burden.
Rural communities throughout Wadena County and Aldrich Township to Wing River Township have many distinctive assets that can provide a basis for economic development activities. Natural amenities such as lakes, rivers, forests, wildlife and open space are appealing to people and present unique opportunities for rural development. The rural and agricultural nature communities in Wadena County offer an outstanding work ethic, higher rates of self-employment, and opportunities for entrepreneurial ventures. However, taking advantage of these unique assets presents challenges for rural Wadena County. Smaller communities and townships need technical; business and financial guidance i.e. grant writing and incentive programs, which would be provided through a county economic development organization.
If you would like to start a business or buy an existing business in rural Wadena County where would you begin? County EDA’s are one-stop assistance centers that foster development by providing small businesses with management and technical assistance. They provide counseling assistance to prospective small business owners to help with a business plan and applying for loans, grants and other government programs. With appropriate funding, a county economic development agency can be highly effective in promoting and recruiting business to lessen the tax burden and increase economic vitality for all residents.