IEDC Receives Substantial Grant From U.S. Economic Development Administration
Thursday, August 08, 2019
IEDC recently received a $190K grant from the U.S. Economic Development Administration (EDA), to focus on driving economic development as well as business retention and expansion efforts within Itasca County. IEDC will also contribute $190K to the project, bringing total funding to $380K over two years.
“We are excited to dive in and create a strategy to strengthen our economy,” explained Tamara Lowney, IEDC President. “Receiving this EDA grant creates an exciting opportunity for IEDC to create a strong, diversified business environment in Itasca County.”
The future of Itasca County depends not only on new business attraction but also on the growth of existing businesses. With EDA grant funding and IEDC’s match, IEDC will hire an Economic Recovery Coordinator to undertake several key initiatives. Over the two-year project, this position will help align economic development needs in Itasca County by launching an accelerated business retention initiative, identifying obstacles to business growth and conducting a cluster analysis that will identify economic strengths and opportunities for sustainable growth.
IEDC would like to thank several partners for their support during the grant application process, including APEX, The Northspan Group and the Arrowhead Regional Development Commission (ARDC). Additional thanks go to Representative Pete Stauber, Senator Tina Smith and Senator Amy Klobuchar, for writing letters of support for the project.
IEDC and APEX worked closely together to complete the grant application and develop a strategy for this project. We will continue to partner for the duration of the project and beyond.