Koochiching Economic Development Authority (KEDA) wishes to stimulate private investment and economic diversification in Koochiching County. By providing services and incentives to new and expanding businesses and retention of existing businesses, the KEDA seeks to enhance businesses ability to create and preserve jobs.

Incentives provided by this program are intended to complement the business financing services of local institutions and other economic development lenders. By acting in partnership, the financial community is able to provide more capital without increasing the risk to any one participant.


Applicants receiving consideration for assistance must be businesses located within the boundaries of Koochiching County. Applicants maybe start-ups, expansions or existing businesses involved in a value-added operation including manufacturing, agricultural processing, information industries, and other technologically innovative businesses. Speculative developments, retail, or media operations are not eligible.


Several factors come under consideration in the review process relating to the basic credit decision. Applicants must be prepared to:

• demonstrate creditworthiness;
• prove repayment ability,
• provide an acceptable level of personal equity,
• establish strong management capability

In addition to these credit factors, the nature of the Economic Development Services and Incentives dictates additional key review considerations. These factors are critical due to potential demand for the limited funds and are important in determining the level of KEDA's participation. Applicants must demonstrate that:

• The project will create or retain jobs;
• Jobs created or retained must pay a prevailing wage as defined by DEED;
• KEDA's assistance is necessary to the viability of the project;
• In addition to job creation, the project will have an additional economic
  impact on the area;
• The KEDA's assistance leverage other private investment, not just public funds.