June 9th, 2022
Mankato, MN — The Regional Economic Development Alliance (REDA) & Greater Mankato Growth are excited to announce a 98.7% increase in investment into the Greater Mankato Region within the last year. Annually, Greater Mankato Growth and partner communities of Eagle Lake, Lake Crystal, Mankato, North Mankato, St. Peter, Blue Earth County, and Nicollet County utilize building permit data to examine the pipeline of current and upcoming capital investments into the Greater Mankato Region. Investments in the Professional/Service Economy, Retail/Consumer Economy, Primary/Manufacturing Economy, and Government/Education investments are included in this report.
REDA Chair, Mayor Mark Dehen, had the following to say about the increased investment this year “This resurgence in investment is an impressive testament to the vitality of our community for which we are profoundly grateful.”
Building permit & investment data for 2021 showed a 98.7% increase over 2020 and a 29.3% increase over 2019. With a 2021 investment of $158,976,654, Greater Mankato’s 5-year capital investment grew to over $750 million. Private investment into the Primary/Manufacturing Economy and the Retail/Consumer Economy saw increased investment compared to prior years with the Primary/Manufacturing Economy seeing the highest growth. Investment grew by 127% compared to 2020 and 420% compared to 2019.
“This encouraging report demonstrates that our regional economy has seen significant growth in all the major sectors”, said REDA Vice-Chair, Councilperson Keri Johnson. “Most importantly, it shows that the quality of our people and workforce, and the livability of our communities drives investments of these types.”
For more information, visit greatermankato.com/new-expanding-businesses.
About the Regional Economic Development Alliance
In 2009, the Regional Economic Development Alliance (REDA) began with a progressive group of communities and counties joining together with Greater Mankato Growth in business attraction and development efforts. REDA participants include Eagle Lake, Lake Crystal, Mankato, North Mankato, Saint Peter and Blue Earth and Nicollet Counties. By working together, the group is able to efficiently provide regional and individual city and county information to businesses interested in the Greater Mankato marketplace. As a result of promoting the individual strengths of each community, along with the combined assets of the regional marketplace, all experience collective success.
About Greater Mankato Growth
Greater Mankato Growth, Inc. (GMG) is comprised of four business units; Greater Mankato Growth, the regional chamber of commerce and economic development organization; Visit Mankato, the local destination management organization; City Center Partnership, a downtown development organization; and GreenSeam, which utilizes agriculture to build on the region’s extensive agribusiness assets to develop the ag economy.