RAEDI has allocated $600,000 in Economic Development Funds (EDF) to support *Base Businesses in the city limits of Rochester. Funding is available as a result of the passage of the half-cent sales tax voted on by the residents of Rochester from 2012. This initiative underscores the commitment to fostering economic growth and prosperity within the community.
The EDF program offers low-interest loans (minimum $50,000) tailored to meet the needs of local businesses, providing them with the financial resources necessary to thrive and expand. Whether you’re a startup looking to scale up or an established enterprise seeking to invest in new projects, these funds can serve as an asset to fuel your growth ambitions.
Learn more about what a base business is and how the funds can be used.