Help will soon be available for businesses in Gaylord. The Small Business Development Center, this spring, will be opening a satellite office in Gaylord.
Reggie Edwards, executive director of Region Nine, explained to Gaylord’s Economic Development Authority that plans are to establish satellites in Gaylord, Fairmont, Mankato/North Mankato, New Ulm, and Waseca.
It is hoped that the local center will help increase business health, job growth and sales revenue. Plans are to have 20 business consultant hours available each week.
It is proposed that the satellite office space be hosted by the City of Gaylord, EDA, and Chambers of Commerce. The Small Business Development Center will allocate $10,000 to the satellite in staff time, to be leveraged by local financial support of $20,000. Weekly visits will be made to surrounding community businesses.
Partners would help generate business development opportunities with staff.
The Small Business Development Center will offer services including financial assessment and analysis, marketing, business development coordination, business planning, and coordinated access to regional institutions involved with business development.
Edwards proposed that the satellite office be on a three-year trial basis, to begin in April 2009 and end in April 2012.
The City has agreed to provide the back room of the City offices for the satellite center. Gaylord’s Economic Development Authority has agreed to purchase the telephone line, which will be shared with the Chamber of Commerce.
In other business, the EDA:
• Learned from City Administrator Kevin McCann about reduction of the EDA budget for 2009. Plans are to reduce the Region Nine contract by $1,600 and the railroad coalition fee by $1,000.
• Passed a resolution dedicating funds to the downpayment assistance program for home purchases. All monies received for repayment of principal or interest associated with the downpayment assistance program will be reinvested into the program. A separate account will be created for the monies to guarantee the use of the funds as directed. A report regarding the balance and activity in the account will be given at the regular monthly EDA meetings.