Welcome to the Mountain Lake Economic Development Authority (EDA)
“Together We Prosper”!
The Mountain Lake Economic Development Authority (EDA) is ready and able to assist any business either wanting to expand, relocate or start-up in Mountain Lake. We have the financial resources, land, infrastructure, quality work force and the development friendly environment that will help your business be successful. We invite you to consider the business and job opportunities available in Mt. Lake – Just give us a try! Call 507-427-2999 ext. 4 for more information and to discuss your business venture.
Top Ten Reasons to Start a Business, Live & Work in Mountain Lake:
1. Local Economic Development Revolving Loan Funds
The Mountain Lake EDA administers a $1.3 million dollar revolving loan portfolio to stimulate private sector investment in new or expanding Mountain Lake businesses. Revolving Loan Funds (RLF) can be used to finance the acquisition of fixed assets or to provide working capital for start-ups, relocations or expansions. Loan terms and conditions are established by the EDA. Security and collateral are negotiable. Interested loan applicants are encouraged to meet with the Economic Development Director to discuss eligibility and complete loan application materials.
2. Room to grow!
Whether your an existing business or new start-up, there is ample space for your business to locate and grow in Mountain Lake! We have several “shovel ready” business/industrial sites available at a very reasonable price with lot sizes to suit any need. If there isn’t the right lot available, we will work tirelessly to help you find what works for your business. Call 507-427-2999, ext. 4 for more information.
3. Other Economic Development Resources
Tax increment financing, tax abatement, Cottonwood County Seed Capital Funds as well as a wide range of regional, state and federal financing programs are available to businesses planning to build or expand in Mountain Lake.
State Financing Opportunities: www.deed.state.mn.us
Minnesota Investment Fund-
This program provides grants to qualified businesses that create and retain high-quality jobs on a statewide basis, with a focus on industrial, manufacturing, and technology-related industries, to increase the local and state tax base and improve the economic vitality for all Minnesota citizens.
Small Cities Development Program-
The purpose of this program is to provide grants for decent housing, a suitable living environment, and expanding economic opportunities, primarily for persons of low- to moderate-income.
4. Technical Assistance
The City and EDA Staff have over 50 years of combined experience in providing technical assistance to businesses! Our EDA Economic Development Director is ready to help you through the development process from finding a location to do business to securing financing. Mountain Lake prides itself on being business friendly and adept at helping any business to be successful.
5. Location, location, location!
Highway 60 is a major state highway connecting Mountain Lake to Mankato and Sioux Falls. Mountain Lake lies 29 miles north of I-90. Ten miles west of Mountain Lake lies Highway 71, connecting Mountain Lake to the Iowa Great Lakes region to the south and Willmar to the north and with available high speed telecommunications … you can do business in Mountain Lake with any supplier or customer in the world!
The Union Pacific Railroad passes through Mountain Lake.
Mountain Lake has approximately 900 homes and apartments within the city. Units rent from $250 – $975. The average home price is $60,000. Contact The Hanson Agency, 507-427-3500, 1018 Third Ave. www.hansonagency.com Mountain Lake, MN 56159.
Thinking of building a home? Why not in Mountain Lake? The EDA owns lots that can be yours – or your employees – at no cost! Located in residential areas of the community with city services. Lots are also available at the newest housing subdivision in the city called Lakeview Estates. As an incentive to build, the EDA may also pay for a portion of the assessments on each lot. For more information call City Hall.
Mountain Lake has a licensed commercial facility as well as a number of in-home day cares. Town and Country Daycare, located at Mt. Lake Elementary offers care to 32 children. There is also an after school program for children ages 5-12.
Mountain Lake Public School enjoys a 20 to 1 student/teacher ratio, while the ratio is 15 to 1 at Mountain Lake Christian School. Both facilities are K-12 and offer a variety of classes and extra-curricular activities. Eighty-eight percent of their graduates attend post secondary schools. That’s 23% above the state-wide average!
Mountain Lake offers a skilled workforce with a work ethic that is second to none. Additionally, your work force training needs can be met through a variety of programs including:
Higher Education Loan Program-
Provides short-term, no interest loans of up to $250,000 to Minnesota businesses to assist them in obtaining the training they need for need or existing employees.
Minnesota Job Skills Partnership-
Provides grants of up to $400,000 to educational institutions with businesses as partners to develop training programs specific to business needs.
Minnesota Pathways Program-
This program provides grants of up to $400,000 to educational institutions with businesses as partners to develop training programs for individuals making a transition from public assistance to work.
Health Care & Human Services Worker Training and Retention Program-
Provides grants of up to $400,000 to educational institutions to develop training programs to worker shortages in the health care and human services industries.
Distance Work Program-
Provides grants of up to $400,000 to educational institutions to promote distance-work training projects that involve implementing technology in rural areas.
10. Quality of Life
- Hiking trail around the lake
- Fishing pier and boat launch
- 9-hole Mountain Lake Golf Course
- Public School indoor swimming pool
- Public Library
- DSL Internet availability
- 24/7 police protection
- Fire and Ambulance Service
- Medical care
- Mountain Lake Medical Clinic
- Windom Area Hospital
For more information contact:
Economic Development Director
930 Third Ave., Drawer C
Mt. Lake, MN 56159
(507)427-2999, ext. 3 firstname.lastname@example.org