This week on the podcast with sit down and chat with Ryan Nolander, President of Rochester Area Economic Development Inc, or RAEDI. RAEDI is a private/public partnership for economic development that serves Rochester and the surrounding four county area including Olmsted, Dodge, Fillmore, and Wabasha Counties. Ryan began his career with RAEDI this June after spending close to thirteen years with the Albert Lea Economic Development Agency. On the podcast today, we talk about:
· How RAEDI assists local businesses and performs economic development in the region.
· RAEDI’s focus on entrepreneurial development with the Mayo Clinic Business Accelerator, the Economic Development Fund (EDF) and the Southeast Minnesota Capital Fund.
· Progress with the EDF over the past years, including the lending of $1.8M (all approved by Rochester City Council) for fifteen different projects. These loans have allowed the recipient businesses to go on to raise $72M in funds and to create one hundred jobs.
· Progress with the Southeast Minnesota Capital fund, which closed at $2M in June with fifty-six total investors and has invested $500,000 thus far across five different projects.
· Ryan’s time performing economic development in Albert Lea and how that differs from activity currently taking place in Rochester.
· What attracted Ryan to the Rochester area.
· Ryan’s view on entrepreneurial activity taking place in this city.