February 5th, 2024
Mankato – Greater Mankato Growth is excited to announce that the City of Madison Lake has joined the Regional Economic Development Alliance (REDA). The addition of Madison Lake increases REDA’s footprint to eight partners that includes the cities of Eagle Lake, Lake Crystal, Mankato, North Mankato, St. Peter, Blue Earth County, and Nicollet County.
“We are honored to join our neighboring cities, whom we already work closely with, to address the evolving needs of southern Minnesota. Working together as a group to further enhance the opportunities that this region has to offer is exciting,” City Administrator Liz Wille said.
Every public dollar invested in the REDA partnership in 2022 resulted in $426 in private capital investment.
“This partnership couldn’t come at a better time for the City of Madison Lake. With the current state of our various commercial, recreational, and residential offerings, we hope this partnership will help showcase that Madison Lake is the ideal live, work, play community,” Mayor Al Dorn added.
“We are thrilled to welcome the City of Madison Lake to the REDA partnership,” said Ryan Vesey, Director of Business Development at Greater Mankato Growth. “The foundation of our region’s strength is rooted in an eagerness to collaborate in order to promote economic growth, something we have done since the inception of the REDA partnership 15 years ago. That partnership is now stronger with the addition of Madison Lake.”
The objective of REDA is to retain and grow the primary economic base of the Greater Mankato regional marketplace through business retention, new enterprise, emerging business development, and new business development.
Learn more about Madison Lake at www.ci.madison-lake.mn.us/.
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.
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, Madison Lake, Mankato, North Mankato, Saint Peter, Blue Earth County, and Nicollet County. 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.