Not too many months ago, the area was on an economic high, as story after story began getting out about prospective business expansions and new businesses moving into the community.....
When it comes to the business environment in the Redwood area, most recognize the ebbs and flows which are a reality of the economic times.
Not too many months ago, the area was on a high, as story after story began getting out about prospective business expansions and new businesses moving into the community.
That high has certainly waned, but according to Julie Rath of the Redwood Area Development Corpora-tion, the momentum which started in 2012 continues.
“In general business is going well,” Rath said, adding, however, there are challenges to be faced.
One of the changes Rath hopes can take place soon in the area is the establishment of an angel group that would be willing to invest in potential businesses. Those who might be interested in helping an equity investment group in the area are encouraged to contact Rath.
One of the topics that continues to be discussed is the need for added broadband assets in the area, and Rath said that project which has been discussed for several months now is proceeding.
She said a feasibility study of the regions providers has been completed, and she said meetings to discuss the findings of that study are going to be discussed at meetings she anticipates holding in April.
Rath said some of the projects that have been in the works are beginning to show signs of fruition, such as the building of a new Running’s store in town. Rath anticipates movement on that project sometime this spring. She also said bids have gone out for the Rice Home Medical project.
There are new owners of the local bed and breakfast, and Rath said the new ownership is making some changes before reopening.
Rath said the Titan building along Bridge Street is still for sale, adding there are plenty of other buildings in the area which are also available. Those who would like more information on those spaces can call (507) 637-4004.
Information is also available on the RADC Web site at www.radc.org. Rath said there are changes coming to the RADC Web site that should make the site more business user friendly. Those changes should be launched some time in April.
According to the Minnesota Department of Employment and Economic Development (DEED), the current unemployment rate in Redwood County is 5.4 percent, which is similar to what it was one year ago and is similar to the 5.6 percent rate for the state as a whole.