The city of Pine River has engaged the Cass County Economic Development Corporation (CCEDC) to serve as the Lending Development Organization for the city's Minnesota Investment Fund money.
On June 1, Terri Dabill, Pine River city clerk, handed over a check for $115,807.82 to Mike Paulus, CCEDC executive director, following a lengthy approval process and public hearing period. The money is designed to fuel growth in the Pine River area via small business loans the CCEDC makes to business entities in and around the Pine River area.
"Growth is coming," said Paulus. "Cass County is primed for an economic explosion. The funds from the city of Pine River will ensure that the impending growth is capitalized on by businesses in the area in the most effective manner possible."
For businesses in and around Pine River, allocation of the funds will mean forming a consulting partnership with the CCEDC and completing state-required reporting.
"This money is meant to be a blessing to the area, and the CCEDC is here to help ensure it is used in a responsible way," Paulus said.
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The CCEDC is a nonprofit organization dedicated to promoting Cass County as an excellent place to work, live and do business. The Cass County EDC partners with organizations that exist to serve businesses so every customer is aware of all the resources available to assist them with their business goals, and focuses on developing projects that will contribute to a better economy in Cass County.
