Lakes area economic development authority

The AAEDC works in partnership with the Lakes Area Economic Development Authority to meet their overall goals. The LAEDA was organized in 2004 through special state legislation with approval of the State of MN and the organization’s founding members to formalize and stabilize the funding process of economic development efforts in Douglas County, MN. Because of the long-term nature of many initiatives and investments needed to continue to grow our community, stable funding is crucial to the success of economic development efforts.

The mission of the LAEDA is to support the mission of the AAEDC by providing fair and equitable resources.

POWERS OF EDA’S

• Tax abatement

• Ability to enter into contracts

• Sale of bonds

• Economic Development Districts

• Levying of taxes

• Creation of Tax Increment Financing (TIF) Districts

• Acquisition and sale of real estate and personal property

• Participation in limited partnerships