Development Corporation of Austin, Minnesota

Economic Development for Austin & Mower County

329 N. Main, Suite 106-L, Austin, MN 55912
Phone: 507-433-9495; Fax: 507-433-9470
Email: austindca@smig.net

Home Page

Annual Report

Application

Austin Information

Mission Statement

As an investor in new or expanding industrial enterprises, DCA acts to create
employment and economic enhancement within Austin and greater Mower County.

Staff

George Brophy, President/CEO
Christine Jensen, Administrative Assistant

Board of Directors
Craig Johnson, Chairman Dave Crandall, Vice Chairman Glenn Baker, Secretary Mike McCoy, Treasurer Terry Fox Dr. James Herrick	Joe Fuhrman Jay Nelson Greg Meyer Michelle Jorgenson, City of Austin Raymond Tucker, Mower County

Credit Committee

Dave Forman
Lynn Koch
Mike Landherr
Todd Thompson

Financial Interest:

We can consider investments as low as $5,000 and as high as $500,000. Most often our investments range from $50,000 to $200,000.

General Financial Participation Requirements:

If a loan; $1 DCA: $1 from other non-owner source
If equity; $1 DCA: $1 owner equity or other supplied investor

Goal for Our Investments:

We invest in sustainable companies with a strong interest in enterprises in which the owners and/or primary operators are or become residents of the area. While we will consider investments in plants and extended operations for companies with primary locations other than Mower County, we do not place priority on such investments.

We do not quantify funds employed against jobs created. We do, however, look for a correlation between the size of investment and the quantity and quality of jobs created, with an emphasis on jobs that bring higher skill people into our work force.

Companies That We Desire to Serve:

We serve companies that are manufacturers, distributors, processors, warehouses, and providers of services in which the service is directed at a market that is multi-county, state or country. Examples of services that we would serve are telemarketing, information/data processing, software development and communications networking.

Community Marketing:

In order to identify companies that may have an interest in the Austin area, we belong to the following network providers: EDAM and EPSEM. We also seek to stay in close communications with the University of Minnesota Hormel Institute and business colleges of nearby universities.

Development Corporation is an Equal Opportunity Lender and Employer
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Last Update: 11/7/2002