INNOVATION 2021 | PAGE 3
Stabilization and regrowth O
ne thousand fifty-seven unique inquiries, 45 new businesses, 121 new jobs, three shuttered big box sites. That’s just a few of the countless ways that Greater Fergus Falls (GFF) has contributed to the stabilization and regrowth of the Fergus Falls area over the last three years. As a nonprofit economic development organization commissioned to provide economic development services to Fergus Falls and a 25-mile service corridor, our organization and business community has grown significantly since our inception in July 2018. Collectively, we (as a community) have had some great successes, especially over the last year. That said, we must continue to foster the momentum and invest in our economic development strategy for the long game. Consider the following range of services that showcase the breadth and depth of GFF’s capabilities: Entrepreneur initiative This free and confidential one-on-one coaching service provides support, technical assistance and training to early-stage entrepreneurs, startups, and existing business owners. This programming covers a range of services that include fundamental startup methodology and customized work plans. In 2020, GFF serviced 37 entrepreneurs resulting in the creation of 10 new businesses including Uncle Eddie’s Ice Cream Parlor and Dandelion & Burdock. To date in 2021, GFF has supported
48 entrepreneurs, seven of which have already opened their businesses with several more on track to open by year’s end. Adaptive reuse & capital investment Target, Shopko and Sunmart comprise nearly 200,000 square feet of prime commercial space. It took time, but eventually the effective and NETIA adaptive reuse of these sites took BAUMAN shape. Today, these former bigGreater box sites range from a school and Fergus Falls child care facility to a multi-tenant business park with the potential to house anything from light manufacturing to retail. Lastly, a mixeduse property that will provide market-rate apartments to aid in bridging the housing gap and to offer speculative commercial space to attract new businesses. The former Sunmart building, now known as Wayne Enterprises, is the most recent example of large-scale commercial redevelopment in our community. This 54,000-plus-square-foot, prime-commercial property has sat vacant since mid-2018. It was purchased by a local investor in May 2021, and is currently undergoing substantial renovations. With fall occupancy planned, this repurposed business park will be home to two local manufacturers with other tenants expected to be announced later. New development
Carleton Companies purchased a 40-plus-acre commercial site on the north end of Fergus Falls with plans to construct a new commercial salvage facility and contractor laydown yard. An existing but underutilized shortline railroad is located on the property — a ripe opportunity to build a rail spur and transloading facility. GFF assisted with a Minnesota Department of Transportation grant, resulting in the award of over $480,000 to construct the new rail spur. This spur will enhance our business community’s economic competitiveness, increase sustainability, and offer additional opportunities for growth. New construction isn’t unique to outside businesses, but includes existing businesses looking to expand their footprints, too. As is the case with Companion Animal Hospital, a local veterinary clinic, who began working with GFF more than two years ago. Due to increasing demand, the clinic set on a path to expand their footprint and build a new facility that broke ground in April 2021. This expansion has allowed them to hire new professional staff, serve more patients, and retain nearly 20 jobs in the community! We’ve come a long way but there is still much to do and we can’t do it alone. GFF is grateful for the countless individuals, investors, organizations, and partners who have and continue to work with us to advance our mission and grow the area’s business community and economy.
Trusted Advisors. Helping you find solutions to reach life’s goals.
americanfederalbank.com Brian Wing Business Banker
Chris Marvel Business Banker
Jackie Marquardt Associate Banker
Dustin Morris Ag/Business Banker
117 South Mill Street Fergus Falls, MN 56537
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