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Economic Development
There is only one Cannon Falls: no other city in the United States has this name. But more importantly, Cannon Falls is strategically located between the thriving Twin Cities metropolitan area and Rochester, Minnesota, home to the world-renowned Mayo Clinic.
Cannon Falls offers a vibrant business environment with a skilled workforce, strong infrastructure, convenient accessibility, and flexible incentives. The robust local economy features a solid lineup of businesses in manufacturing, food processing, financial services, and transportation and logistics.
If your business is looking for a unique community and a strategic location, you need look no further than Cannon Falls.
This plan addresses these impacts and the way Cannon Falls residents will respond to the challenges that face them. For example, residents hope they can replace some of the lost services as the expected population increases, bringing buying power to the community. At the same time, the community wants to make sure that the new subdivisions and developments that house new residents are well designed and provide a variety of housing types and prices.
- Financing Opportunities for Your Business
The Cannon Falls Economic Development Department has established initiatives for identifying, administering, and funding economic development financing programs. With local relationships with businesses and lenders as well as an array of regional and state partnerships, Cannon Falls is ready to help you start, expand, or relocate your business.
The Economic Development Authority manages a Revolving Loan Fund that provides low-interest gap financing to startup and expansion projects. EDA staff can also assist in identifying other sources of funding from regional and statewide entities, such as the Department of Employment and Economic Development (DEED), 504 Corporation, and the Southern Minnesota Initiative Foundation (SMIF).