FAIRMONT – Earlier this week, the Fairmont Economic Development Authority (FEDA) held a meeting and heard a number of updates from Economic Development Coordinator Ned Koppen.
One of the updates was regarding a new partnership between FEDA and county EDAs to partner with Retail Coach.
“I shared that we had a representative from Retail Coach here in town last week and we spent a good portion of the day talking, strategizing and touring the available sites.” Koppen said.
He said representatives will be attending a national conference in Indiana this week to talk about Fairmont as a community for retailers.
“I did some work and Amber (Patten) from Martin County EDA came up with some properties and he got a feel for the city and the traffic patterns as we drove around town. Good We’re off to a good start.” Koppen said.
The board also heard a presentation from Crystal Hanson about the High Performance Coaching Academy she hopes to bring to the region in January or February.
“We had a very good question and answer session from the board. I think the people who were there were supportive of it and that it would be a valuable addition to what is available in the community. believe.” Koppen said.
The importance and details of succession planning were also touched upon. During Koeppen’s role as president of the Fairmont Area Chamber of Commerce, several workshops were held on succession planning for local businesses.
“Since then, I have continued to explore the best ways to leverage education and resources to move it forward. This is a continuation from me because this is important. It should be in the toolbox that FEDA provides when doing so.” Koppen said.
The board also received a brief update on the status of Shenanigans, a bar on East Third Street in the Fairmont that recently closed.
“In October, we made some arrangements to be able to sell using the existing loan with the then-owner. We shared that the new owner was there and was digging into the building. It’s something we have been proactive about in responding to this.” Koppen said.
The new owners are making several improvements to the building and expect it to open after the new year.
“He has a lot of work to do, but he’s very enthusiastic, so I hope he accomplishes everything the way he wants. It will be a great addition.” Koppen said.
A groundbreaking ceremony was held late last month for Midwest Shop Condos, a new industrial commercial unit in the Fairmont Industrial Park. Koppen said he shared with the board that dirt would be moved there soon.
In closing, Mr. Koeppen said: “We have approved an extension agreement with the Southwest Minnesota Housing Partnership (SWMHP).”
Last month’s board of directors approved SWMHP working with local company Remax to market the White Tail Ridge property in Fairmont.