The Faribault County Board of Commissioners reviewed the 2025 annual report from the county’s Economic Development Authority on Tuesday.
EDA Specialist Kendra Reineking said the board saw leadership changes over the past year, with John Herman resigning as chair and Bruce Anderson replacing Bill Groskreutz. She said the agency’s mission remains focused on supporting local businesses and encouraging entrepreneurship across Faribault County.
In 2025, the EDA awarded two revolving loans totaling $35,000 to area businesses and provided technical and marketing support to help launch a new company’s website. The agency also distributed 12 forgivable loans to childcare providers, totaling nearly $35,000, helping cover training, facility upgrades and safety improvements.
The EDA additionally assisted the city of Elmore in securing a grant for a public sports equipment locker system.
Looking ahead, the EDA plans to promote its revolving loan funds, assess agricultural needs, expand childcare loan outreach and administer the Local Housing Trust Fund Affordable Housing Aid Program.
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