What is Economic Development and the EDA?!

Economic development- the process of creating, enhancing, and sustaining wealth and well-being for a community and its residents and businesses. 

Our job at the EDA is to help spark entrepreneurship, connect businesses with appropriate resources, technical assistance providers, and potential funding opportunities to help East Grand Forks' businesses grow and become more resilient!

We're kind of the central intelligence hub for all things business.

• Need a mentor in a specific industry? We can find you a person!

• Trying to decide if a gap loan or microloan is right for your new project? We can talk you through the different programs and even find one that might work better!

• We also keep tabs on regional and state employment trends as well as locally. 

• Have something particularly frustrating your business is trying solve? Perhaps we can help advocate to elected officials and legislature for improvements. 

• Facing an operational crisis? Don't go it alone, we may know just the right remedy to help you back on track. 

But why does this matter? Aren't corporations evil or something?

• Corporations are just a type of business filing designation. Some people pick sole proprietorships or LLCs. It's for taxing purposes.

• Entrepreneurs are rad people to take a personal & professional risk to start a business to solve a problem or need. 
  • Sometimes it's a dad creating a business to leave for his kids to take over or it's a single mom creating a business that works for raising her family. 
• We need businesses of all sizes to have a healthy community. 
  • Locally-owned: wealth is generated and stays in the community
  • Headquarters: lots of local jobs and potential for future spin-off companies
  • Corporate branches: offers a solid place for consistent benefits and income
• The local handyman LLC company who fixed your leaky sink likely also does contract work for the local big box store repairing their leaky sinks too. 
• Often in smaller communities, the businesses are owned by your neighbors, friends, and family!

We all love cool stuff and things...which means we need a wide variety of different businesses to ensure strong & resilient communities, nifty gadgets and other consumables, products to make life more comfortable.