Economic Development Services
Professional Business Consulting
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Thinking about starting a business in Luverne?
If you want to start your own business but don't know where to begin, you are in the right place! We've got the tools and resources readily available for you. The LEDA is partnered with the MN Center of Rural Entrepenureship (MN CORE), and we want you to be EXCITED, EDUCATED, and EMPOWERED to turn your ideas into reality! The MN CORE Website offers excellent webcasts that will provide you with the knowledge and tools you need to help you succeed in business. Check out these great webcasts:
In addition, the MN CORE website offers technical assistance with writing a Business Plan, calculating Cash Flow Projections, and Developing a Marketing Plan. The links are proivided on the page of the webcasts so you are able to start working on these documents and forms while you are watching the webcasts.
Do you want to expand your current business? New jobs don't come from just outside a community; rather, they are created by existing businesses. In fact, most economists say up to 80 or 90 percent of all new jobs come from
If your business is interested in making energy efficient upgrades, be sure to check out the Luverne Municipal Electric Utility Energy Incentive Program. Loans of up to $5000 offered at 0% interest are available to businesses for qualified Bright Energy Solutions projects with the monthly payments added to the the customer's utility bill. Eligible projects include lighting for new construction, lighting retrofits, heating and cooling, motors, pumps, VFDs and custom incentives. We can send a specialist directly to your business to find out the best energy efficient upgrades for you!
Thinking about relocating your business to Luverne? Luverne, MN has many advantages for the savvy business owner. In addition to having a hard-working, well-educated workforce, Luverne is conveniently located with US Hwy 75 and Interstate 90 serving as the main transportation arteries passing through our city.
The City of Luverne benefits from a municipally owned electric utility which provides low electric rates. The Economic Development Utility Rate is an additional toolsused by the LEDA to reduce costs for a business locating in Luverne beyond the existing low rates.
Employee Relocation Assistance may be provided to key personnel to assist in moving costs. Discounted Residential Lots are also available for key and regular employees in our new residential developments. We will strive to create a custom program and assistance package that specifically meets the needs of your start-up or expanding business!
What are your current questions? What help do you need? The Luverne Economic Development Authority strives to provide new and existing businesses with the needed resources to begin or continue to prosper. Additional incentives include:
Tax Abatement - Tax abatement is a tool used for development purposes. It is a tax rebate rather than an exemption from paying taxes. The City of Luverne and LEDA use this as an additional tool to lower initial start-up, relocation, or retention costs over a certain time period. Abatement levels are determined by participating jurisdictions (City, County, and School District)
Gap Financing / Revolving Loan Fund - The LEDA is capable of providing gap financing loans at low interest rates primarily used for development and expansion of small businesses.. Gap financing may provide the needed assistance to expand, update equipment, or start a business. Check out the LEDA RLF parameters in the link below.
Economic Development Utility Rate - The City of Luverne benefits from a municipally owned utility which provides low electric rates. The Economic Development Utility Rate can reduce costs for business locating in Luverne.