To ensure long-term vitality for economic development efforts in the Alexandria Area, the AAEDC sought legislative authority and received approval in 2003, to create the Lakes Area Economic Development Authority (LAEDA). The LAEDA model is the first of its kind in Minnesota to bring together communities and townships under a formal structure with designated EDA powers. This formal partnership between the City of Alexandria and Garfield, and the Townships of Alexandria and LaGrand is considered to be an innovative model in addressing local, long-term economic development issues across geographical boundaries.
LAEDA Mission Statement:
Support the mission of the Economic Development Commission by providing fair and equitable resources.
The AAEDC continues to receive annual appropriations in support of economic development from Douglas County, and the Townships of Brandon, Carlos, Hudson, and Lake Mary.
Through joint strategic planning processes between the AAEDC and the LAEDA, core initiatives and strategies are defined to develop a shared vision of the future and to identify goals and objectives against which progress toward achieving that vision can be measured.
- Stewardship: Provide leadership for an action-oriented coalition to support economic and community growth for our area.
- Trust: Earn and sustain the trust of our business, communities and elected leaders we serve.
- Regional Collaboration: Recognize and leverage the interrelatedness of people, businesses and communities in the Greater Alexandria area and support development efforts that benefit the region.
- Teamwork: Economic development is a team effort. Engage the public, private and non-profit sectors and work cooperatively to build and maintain effective working relationships.
- Respect: Recognize the area's history, natural resources and people and embrace the opportunities they provide.
- Financial Accountability: Provide responsible stewardship of public and private assets and resources.
- Innovation: Innovate to compete and win.
Key Areas of Service
Commercial Tax Incentives
The AAEDC works with new and existing businesses on startup and growth projects, some of which can be supported through incentive programs including: Tax Increment Financing (TIF), Tax Abatement, Industrial Revenue Bonds, and the State of Minnesota’s Job Opportunity Building Zone (JOBZ) program.
The AAEDC strives to be a demographics, statistics, and information clearing house for our area and produces multiple publications each year focusing on the growth and changes of our communities and all of Douglas County.
Revolving Loan Fund
In addition to commercial tax incentives, the AAEDC has a pair of Revolving Loan Funds at its disposal to assist businesses with growth and expansion projects in the area. Funds are specifically used in coordination with primary financing through a financial institution and cannot be used as the primary means of project financing.
The AAEDC works with a large variety of businesses and individuals in the business planning process. Business planning assistance is tailored specifically to the individual’s or business’s needs.
Site Selection Assistance
In a continuously growing effort to assist area realtors and property owners in marketing commercial properties throughout the area, the state, and the nation, the AAEDC maintains two supplemental property listing databases of “for-sale” and “for-lease” properties throughout Douglas County. These databases are free for the listing of commercial properties in Douglas County, and serve as a database of properties that can be easily accessed by individuals, businesses, and site selectors from throughout the nation.
As a part of business planning, the AAEDC can help individuals and businesses to create and analyze financial projections to identify potential needs of the business. Within the financial packaging and planning process, the AAEDC does not recommend any specific commercial lending institution(s) to clients.