Economic Development

South Central Electric Association is a member of Rural Electric Economic Development, Inc (REED).
As a member of the REED Fund busiREED Fundnesses, organizations and communities within the South Central Electric service territory are eligible (see REED eligibility requirements) to apply for funding through REED. 

REED Fund is a community development financial institution dedicated to providing financing and helping to leverage investment to make a difference in the region.

The REED Fund provides gap financing up to 50% to both for-profit and non-profit entities in partnership with a wide variety of other lenders.

To provide opportunities for rural residents and/or communities to:

  • Develop, expand, retain and/or attract business

  • Retain and create jobs and wealth

  • Invest in facilities, equipment and infrastructure to improve quality of life

  • Add value to locally produced raw materials (agriculture)

  • Support future local and regional economic growth
     

Projects include, but are not limited to:

  • Small and medium sized business and cooperatives engaged in manufacturing, retail, service and tourism
  • Community projects relating to water/wastewater, education, broadband, public safety, recreation and the arts
  • Healthcare, medical clinics, hospitals and nursing care
  • Producer-owned businesses and cooperatives that add value to agriculture
     
  • Housing infrastructure, multi-family housing and development with strong community support

 

If you are interested in applying for funding or learning more please contact Jim Haler at South Central Electric (507) 375-3164.

Learn more about REED at http://www.reedfund.coop/.

Learn more about our area at http://econdev.southcentralelectric.com/south-central.

South Central Electric is not required to be the projects electric service provider.  The lending project needs to be within the service territory; Watonwan, Cottonwood and northern Martin counties.