The Outlet economic development newsletter

The Outlet is published to highlight Great River Energy's economic development activities.

Lending practices set to make an impact

on Minnesota businesses

Inflation has cemented itself at the forefront of economic decisions for communities throughout the country. Its impact will present an ongoing challenge in Minnesota as well as rising interest rates making it difficult for businesses to access the capital necessary for their commercial and residential projects. In the face of tightened lending practices, business leaders must scrutinize their plans for 2023. Understanding where to access affordable financing options will be critical, and Great River Energy offers several low-interest loan programs to members.

E3 Loan Program supports manufacturing process automation

The Energy Efficient Equipment Loan Program administered by Great River Energy is seeing an uptick in activity as businesses work to overcome challenges related to workforce shortages, inflationary interest rates, and increased shipping and material costs. One recent example is Midstate Plastics Corporation, a thermoforming and injection molded plastics manufacturer based in the northern Minnesota town of Remer.

Stearns Electric Association secures $1.5 million USDA loan to support manufacturing facility expansion

The U.S. Department of Agriculture awarded a $1.5 million loan to Stearns Electric Association, one of Great River Energy’s 27 member-owner cooperatives, through the Rural Economic Development Loan & Grant Program to support a 32,000-square-foot expansion of the Berkon Outdoors manufacturing facility. The project will create nine new full-time jobs and have an immediate impact on increasing the company's production capacity.

Great River Energy recommits

to non-traditional lender forums

Great River Energy has joined regional economic development nonprofits and government EDAs over the past six years at locations across northeast Minnesota to discuss the variety of economic development lending programs available to new and expanding businesses. The cooperative's economic development service team is pleased to be joining this group again in 2023 to talk about the low-interest loan programs its members offer.

Co-op relocates northern economic development office

Great River Energy’s northern economic development office settled into its new location in downtown Duluth at the beginning of February. The new office,

co-located with the Northspan Group on the sixth floor of the Sellwood Building, provides Great River Energy closer proximity to regional economic development organizations. It also offers visitors a central location to meet while passing through Duluth.

Meet your economic development services team

Tom Lambrecht

Tom administers and implements economic development strategies.

You can reach him at

763-445-6105 and tlambrecht@grenergy.com

Erin Sparks

Erin, based in Maple Grove, focuses on economic development in central and southern Minnesota. You can reach her at 763-445-6113 and esparks@grenergy.com

Jeff Borling

Jeff, based in Duluth, focuses on economic development in northern Minnesota. You can reach him at 218-355-8088 and jborling@grenergy.com

Our member-owner cooperatives

Great River Energy and our 27 member-owner cooperatives take pride in providing our service territory with competitively priced, reliable energy. We are also committed to helping customers start and grow their businesses by helping them plan and manage their energy needs.

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