We see that you have javascript disabled. Please enable javascript and refresh the page to continue reading local news. If you feel you have received this message in error, please contact the customer support team at 1-833-248-7801.

ADVERTISEMENT

ADVERTISEMENT

Regional business team to join RAEDI in new economic development hub

The Southeast Minnesota Region Small Business Development Center is shifting its operations from Rochester Community and Technical College to join Rochester Area Economic Development Inc.

We are part of The Trust Project.

ROCHESTER — After more than 25 years of making Rochester Community and Technical College its home, a regional organization that helps small businesses is moving to join a new hub of economic development organizations coming to downtown Rochester.

The Southeast Minnesota Region Small Business Development Center is shifting its operations from RCTC to join Rochester Area Economic Development, Inc. on July 1.

“Bringing together the services of both organizations under one roof will enable us to better serve entrepreneurs across the region,” stated RAEDI President John Wade in the announcement of the transition.

The SBDC has two people on staff now, but it is looking to hire an additional full-time coordinator as part of the transition.

RAEDI, SBDC, the Collider business support organization and the Black Entrepreneurship Team will all soon move to the sixth floor of the Minnesota Biobusiness Center at 221 First Ave. SW.

ADVERTISEMENT

Construction is underway to transform the floor from housing Mayo Clinic offices to become an economic development hub with co-working space by this summer.

While the SBDC is not as high profile as RAEDI and the Collider, it has long been active in helping local businesses start and grow by providing information and connecting them with financing.

The SBDC, launched as a national program in the mid-1970s, offers entrepreneurs and businesses free business planning, financial analysis and marketing as well as access to capital.

It’s funded by a collaboration between the U.S. Small Business Administration, Minnesota Department of Employment and Economic Development, and regional economic development partners.

DEED manages Minnesota’s SBDC network of 19 satellite offices and nine regional centers, which includes the Rochester center. The Rochester office serves an 11-county region.

Some of the many businesses that the Rochester office has worked with include Watson Recycling, Roca Climbing & Fitness, the Staghead Gastropub, Elgin Family Dentistry and more.

Also Read
New episodes are published weekly on Fridays.
Life Storage, Inc., under the clinical corporate name of SH-7003-7005 LLC, recently purchased a 70,000-square-foot self-storage complex at 3100 Seventh St. NW for $6.02 million. That’s the 58-year-old building that previously housed the Larson family’s long-time Trade Mart Furniture Center business.
BGM Holdings LLC, owned by Gary and Brandon Miller, bought the 13,046-square-foot building at 829 Rolling View Lane SE in Pine Island’s Elk Run area on Sept. 9, 2022.

Jeff Kiger tracks business action in Rochester and southeastern Minnesota every day in "Heard on the Street." Send tips to jkiger@postbulletin.com or via Twitter to @whereskiger . You can call him at 507-285-7798.

Heard Around Rochester - Jeff Kiger.png

Jeff Kiger writes a daily column, "Heard Around Rochester," in addition to writing articles about local businesses, Mayo Clinic, IBM, Hormel Foods, Crenlo and others. He has worked in Rochester for the Post Bulletin since 1999. Send tips to jkiger@postbulletin.com or via Twitter to @whereskiger . You can call him at 507-285-7798.
What to read next
Gar-lin Dairy Farm was filled with 20,000 people to see Luke Bryan, who was joined by Jameson Rodgers, The Peach Pickers and Riley Green.
Rachel Thoma and volunteers opened up the Dover-Eyota Elementary School parking lot to Luke Bryan concertgoers, with money raised going to the Spanish club's trip to Ecuador this summer.
Summer 2022 graduates, President's and Dean's lists, Spring 2022 Dean's list and Fall 2021 Dean's list.
A public hearing is scheduled for Tuesday for input related to potential status change for park that is the subject of a proposed plan for a series of updates.