Since our founding in 1986, Southern Minnesota Initiative Foundation has worked to catalyze entrepreneurial activity in our
20-county region
by providing investments, traditional loans, micro loans, technical assistance and mentoring of entrepreneurs. Each year we invest around $1.8 million in economic development initiatives.
We know that entrepreneurs need support in other ways besides financing, which is why we fund organizations and communities through grants. We previously funded the Faribault Diversity Coalition to promote economic growth in downtown Faribault by providing a coworking space for start-up entrepreneurs and small businesses. More recently, a grant was awarded to the City of Spring Grove to develop an “entrepreneurial toolkit.” They are using the toolkit to equip local entrepreneurs with resources that will help them address common business challenges.
Economic development happens in many forms – a coworking space or trainings for entrepreneurs might be the right answer for some communities. Economic development also happens through arts and tourism initiatives. SMIF’s newly coined Economic Impact Grants are designed to support the dynamic needs of this region.
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Literacy support for our youngest readers
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At SMIF we know that the ability to read by the end of third grade is critical for future academic and life success. Reading influences all foundations of learning including language development. Fifty-six percent of third graders in our 20-county region are proficient in reading. We want to see that number increase which is why we invest in early literacy efforts as a long-term strategy to support our communities and future workforce.
Our
AmeriCorps LEAP Initiative
is one way we facilitate early literacy. Each year, members are placed throughout the region at preschools and nonprofit organizations to work on social and emotional development with children who are at risk of falling behind. The development of reading skills is an important focus of this work.
Another way we support literacy is through our
Early Literacy Grant Program
. In June,
SMIF awarded
20,000 children’s books to 49 organization through the program, in partnership with Mankato-based publishers, Capstone and ABDO. Organizations receive free books which are then incorporated into programming and given to families to take home. Over the years of partnering with these companies, we have been able to distribute more than one hundred thousand books throughout the region.
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Small towns take creative approaches to growth
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We know that small communities are the fabric of our region, yet sometimes lack the financial resources they need in order to address unique challenges they may be facing. This is why several years ago we created the
Small Town Grant Program
for communities in our region that have populations of 5,000 or less. For the past two years we have seen communities use these funds to do incredible work.
Several communities, like Kiester, used the grant to engage the community in a visioning process to develop plans for the future. The City of La Crescent used their grant to work with the community on branding the town as a destination, in order to bring in more tourism. We have seen other towns, like St. James, use the grant to work towards inclusivity and a celebration of diversity in the town, through organizing different cultural events and programming. In Dodge Center a group called Dodge Refreshed used their grant to develop wellness events including a Farm-to-Table dinner.
Youth have also been supported through this process. In Houston, a project called Stories: YES Houston empowered local youth to document community stories detailing Houston’s economy and worker identity. In Spring Grove, the high school created a Community Makerspace Program where students were able to tackle real-world projects, including developing plans for a tiny house. The class was even able to assist with the design of a Habitat for Humanity home that was recently built.
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Welcome new board members!
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SMIF is happy to welcome three new members to our Board of Trustees -
Shawn Vogt Sween
, attorney at the Law Office of Shawn Vogt Sween in Grand Meadow;
Chris Schad
, Director of Business Development at Destination Medical Center EDA in Rochester;
Jake Anderson
, Business Development Director of BevComm in Frost.
Thanks to our outgoing board members, Fred W. Krahmer, Lisa Clarke and Dave Krueger for their guidance and expertise!
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Jessica's Daycare,
Austin | In-home family child care
*SEED Fund Investment
**Grow a Farmer Fund
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Connecting Entrepreneurial Communities Conference
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September 5 - 6 | Waseca
Explore how to create an environment and a pathway that encourages entrepreneurship in your town or neighborhood. Hosted by University of Minnesota Extension.
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Early Childhood Care Conference
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October 26 | Owatonna
Join us for this annual event attended by more than 400 early childhood professionals! This year we welcome Jackie Kops, from
Pocket of Preschool
, as our keynote speaker.
Registration will open soon!
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Support Southern Minnesota's Future
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Imagine vibrant communities where entrepreneurs launch and grow their businesses, children are prepared for their future and communities build the resources and networks needed to sustain their quality of life.
SMIF is embarking on a three-year
Love Where You Live
campaign to strengthen our region’s future. Won’t you join us in creating vibrant communities where more than 581,000 people call home?
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