Driving Economic Development in Our Communities // CEO Column September 2024

Todd-Wadena Electric Cooperative’s commitment to the communities we serve goes beyond providing reliable energy. We believe in the power of economic development as a cornerstone of a thriving community. That’s why we are proud to partner with key organizations that drive growth and prosperity in our region. Two such organizations, The Economic Alliance of Wadena County and Todd County Development Corporation (TCDC), are at the forefront of these efforts, each playing a vital role in shaping the future of our communities.

The Economic Alliance of Wadena County: A Catalyst for Business Success

The Economic Alliance of Wadena County stands as a dynamic nonprofit organization focused on fostering economic growth and development across the county. With a mission to amplify the economic and business interests of Wadena County and its surrounding communities, The Economic Alliance serves as a bridge between public and private sectors, uniting them in a shared goal of prosperity.

Led by a dedicated Executive Board of volunteers and a full-time Executive Director, Hope Williams, The Economic Alliance provides a comprehensive suite of services designed to support business retention, expansion, start-ups, and workforce development. Their collaborative approach ensures that businesses have access to the resources they need, whether it’s technical assistance, market identification, or help with permits and zoning.

A significant recent development is The Economic Alliance’s partnership with the North Central Small Business Development Center (SBDC) and becoming a North Central SBDC Satellite Office. This partnership enhances their ability to provide high-quality, no-cost business consulting services, helping local businesses navigate the challenges of growth and sustainability. By offering these resources, The Economic Alliance ensures that Wadena County remains a vibrant place for businesses and families to thrive.

Todd County Development Corporation: Empowering Growth from Within

Meanwhile, in Todd County, the Todd County Development Corporation (TCDC) is making waves as a county-wide 501(c)(3) nonprofit dedicated to economic and community development. The organization is also led by a dedicated Executive Board of volunteers and a full-time Executive Director, Melissa Wyman. TCDC’s mission is to sustain and promote diverse economic development through education, training, and technical assistance that improves the quality of life in Todd County.

TCDC offers an impressive array of services, including a Small Business Development Center (SBDC) Outreach Office, which provides free technical assistance to new and existing businesses. Their revolving loan fund is a key tool for providing low-interest “gap” financing, ensuring that financial hurdles don’t stand in the way of business success.

Moreover, TCDC’s Business Retention and Expansion (BR&E) program is instrumental in identifying the needs of existing businesses and providing the support necessary to address those needs. From site selection services to grant writing assistance, TCDC serves as a one-stop resource for businesses looking to grow in Todd County.

TCDC’s impact is clear, having provided over 3,000 hours of technical assistance, facilitated $1.8 million in emergency COVID-19 grants, and supported numerous community projects in areas like housing, childcare, and broadband. Their ongoing initiatives, including housing projects and childcare development, continue to address the evolving needs of the communities they serve, ensuring that Todd County remains a place where businesses and residents alike can thrive.

A Shared Vision for a Prosperous Future

At Todd-Wadena Electric Cooperative, we are honored to work alongside The Economic Alliance and TCDC. These organizations embody the spirit of collaboration and innovation that is essential for driving economic development in our communities. Their efforts not only support local businesses but also enhance the overall quality of life for our residents.

Together, we are building a future where our communities are vibrant, resilient, and prosperous. Whether through fostering entrepreneurship, ensuring access to essential services like childcare and housing, or providing the financial tools needed for business growth, The Economic Alliance and TCDC are making a lasting impact.

As we look to the future, we remain committed to supporting these organizations and the incredible work they do. By partnering together, we can continue to build strong, sustainable communities that offer opportunities for all.