Getting your Trinity Audio player ready...

Guest column by Noelle Hagen

In Freeborn County, we find ourselves in the midst of a transformation that echoes the principles at the core of the Albert Lea Economic Development Agency (ALEDA). ALEDA’s mission remains clear: to facilitate services and resources that encourage business sustainability, expansion, establishment and the attraction of employment opportunities of quality within our locality. The vision? To be the impetus behind community development, committed to bolstering our local economy and elevating the quality of life in Albert Lea and Freeborn County.
In this guest column, we’ll take a closer look at some of the notable developments and undertakings that are influencing the future of our community.

Supporting local businesses: The base of Albert Lea Tree Service
Matt Brand, the proprietor of Albert Lea Tree Service, is a certified arborist with over a decade of experience. His ardor for trees and concern regarding the invasive Emerald Ash Borer in Freeborn County led him to spot an opportunity, not just for personal growth but also for community betterment.

To confront the Ash Borer challenge, Matt sought a loan to acquire essential equipment. ALEDA, in conjunction with Arcadian Bank and Freeborn Mower Electric Cooperative, was able to facilitate this loan. The outcome? Albert Lea Tree Service not only procured the required equipment to handle the Ash Borer problem but also expanded its workforce by generating three new job positions, contributing modestly to the local employment landscape.

Current project highlights

Buildings and loans: Presently, we administer five buildings with seven occupant businesses. Over $900,000 in low-interest loans have been granted to 15 local businesses.

Community Investment Fund: A recently established fund gives local investors the chance to support projects that are anticipated to promote community growth and offer a potential return on investment. An illustration of this is the acquisition of a building on the 300 Block of South Broadway, earmarked for redevelopment to offer housing and commercial spaces.

Freeborn County Scholarship: Collaboration between Riverland Community College and local partners has culminated in a scholarship program for Freeborn County high school students. It presents opportunities for higher education and aims to bridge the gap for students who don’t meet the criteria for the State of Minnesota’s free tuition program.

Annual Entrepreneurial Bridge Event: ALEDA takes pride in hosting this event, a collaboration with the Southern Minnesota Initiative Foundation. It draws more than 200 entrepreneurs from the region. This year’s keynote speaker is Cindra Kamphoff, PHD, CMPC, PCC.

Housing: Following the successful occupancy of the initial 48 housing units, Unique Opportunities has committed to Phases II and III of the Front Street project. The Marketplace Apartments are slated to open this year, and a workforce and senior housing project is in progress at Blazing Star Landing. Additionally, the downtown redevelopment project overseen by the Albert Lea Equity Fund will feature housing.

Further investment in ALEDA spec building: The spec building in the South Industrial Park recently welcomed a new tenant, Design Ready Controls. The growth of this business has necessitated additional parking to support the enterprise and its employees. In partnership with the city and Design Ready Controls, we are investing in a $270,000 parking lot project that will create 60 new parking stalls. Design Ready Controls aspires to have 100 employees by the end of 2023, with further growth on the horizon.

These highlights provide just a glimpse of our dedication to the development of Albert Lea and Freeborn County. From downtown revitalization projects to the attraction of new businesses and restaurants, we are engaged in a range of initiatives aimed at enhancing our community. The path to a brighter future continues, and we are determined to be part of this transformative process.

In tandem with our partners, ALEDA is playing a role in shaping the future of Albert Lea and Freeborn County. Together, we are working to foster growth and prosperity, making our community a destination for opportunities.

Noelle Hagen is the assistant executive director of the Albert Lea Economic Development Agency.