CEDA’s 2023 annual report highlights the organization’s significant accomplishments over the past year, underscoring its continued dedication to fostering economic development in rural communities across Minnesota and Iowa. With projects spanning 53 communities, CEDA’s impact is both broad and profound.
The report showcases various initiatives that CEDA team members have spearheaded to address pressing local issues. These initiatives include tax abatement policies, childcare forgivable loan programs, and business retention and expansion efforts. The diversity and scope of these projects reflect CEDA’s commitment to tailoring solutions to meet the unique needs of each community.
One standout highlight of the report is the success of CEDA’s grants department. Over the past year, the department authored grant applications totaling more than $2 million for CEDA communities and special contracts. This impressive feat underscores the organization’s ability to identify and secure funding to drive local development projects.
Workforce development also features prominently in the annual report. Through a partnership with the South Central Service Cooperative, CEDA has implemented workforce development programs in several school districts across rural Minnesota. These programs connect students with career resources and highlight the viable future they can have in rural America.
Another major development detailed in the report is the expansion of CEDA’s Rural Business Innovation Lab. This program provides planning and business consulting services, further strengthening the support available to scalable rural businesses in the natural resources sectors. Eight businesses participated in 2023’s inaugural cohort and received more than 250 hours of technical assistance and mentorship, along with seven focused business workshops.
CEDA’s 2023 annual report paints a picture of an organization deeply committed to enhancing the economic vitality of rural Minnesota. Through strategic program initiatives, effective partnerships, and successful funding acquisition, CEDA’s team members continue to make a lasting impact on the communities they serve.