April 4, 2013

Today, the Albert Lea Economic Development Agency (ALEDA) released the results of their annual JOBZ audits.  As required by state law, ALEDA audits local JOBZ participants each year for compliance in job creation. 

Albert Lea currently has seven JOBZ participants.  In total, these companies agreed to create 134 jobs using the JOBZ program.  The total number of jobs created through 2012 stands at 846; an increase of 83 jobs from 2011.  “Clearly the JOBZ program has been successful for Albert Lea, Freeborn County and the state of Minnesota,” said ALEDA President Nancy Skophammer.

The seven participating JOBZ companies reported an additional capital investment of $3.178 million during 2012.  According to ALEDA Assistant Director, Ryan Nolander, “This brings the total capital investment to almost $52 million in Freeborn County since the JOBZ program started”.  Nolander went on to say, “This investment in our community not only helps stimulate the local economy, but it will provide long-term tax base growth.”

According to ALEDA Executive Director, Dan Dorman, “Because the JOBZ program is set to sunset in 2015, it is unlikely that we will see any new users of the program.  This puts us at a competitive disadvantage compared to our neighboring states, making job creation more difficult.”  The JOBZ program expires in 2015 and no comprehensive state program has taken its place.  Dorman added, “Despite lots of talk, the last legislative sessions have failed to produce a replacement for JOBZ.  ALEDA is hopeful that a replacement is put into place before the end of this session.”

The job numbers reported and benefits received are for the JOBZ portion of the operation.  New users of the program have two years to meet job goals.  Also, these jobs can’t be transferred from the existing operation.

April 4, 2011

                                             Holiday Inn Express to be built in the new I-35/I-90 Business Park

Vern Rasmussen, Mayor and Board President of the Albert Lea Economic Development Agency (ALEDA), announced today that ALEDA has entered into a purchase agreement with Myron Kaeding of Devils Lake, North Dakota for the sale of a lot for a Holiday Inn Express to be built in the newly developed  I-35/I-90 Business Park.  Mr. Kaeding is also the Chief Partner of Northwood Hotel Ventures, LLC which recently opened a Holiday Inn Express near Diamond Jo Casino in Northwood. 

 “We’re very excited to have the first business locate in the new business park,” Rasmussen said.  “The visibility from the interstate was a desired attraction to this company in choosing this location and ALEDA believes this will stimulate additional growth in our community.”

 Mr. Kaeding noted, “The Albert Lea site is a great fit for our company.  This Holiday Inn Express is planned to be a three-story, 66 unit facility with a pool, spa, and fitness center.”  Kaeding added, “This facility will feature a large conference room with screen and a smart board.”  Construction is planned to begin in May.

 According to ALEDA Executive Director Dan Dorman, ALEDA was approached last fall seeking information on sites east of Interstate 35.  Dorman added, “We provided them with information on a variety of sites in Albert Lea, including sites east and west of I-35, the Blazing Star Landing site and the North Broadway site downtown.”     

 August 30, 2009

The Albert Lea Economic Development Agency (ALEDA) and the City of Albert Lea have been awarded a grant in the amount of $709,670 from the Economic Development Administration of the U.S. Department of Commerce.

The grant will go toward the construction of 777th Avenue in the new I35-I90 Business Park located near I-35 and East Main Street In Albert Lea.  It will add to the $150,000 State grant already received to go toward the project.

The road will be constructed between the Love's Truck Stop and the I35-I90 Business Park, which is at the east entrance of the Love's parking lot.

Executive Director of ALEDA, Dan Dorman said, "This is great news for our area".  He noted that the grant is the result of collaboration between a number of people, including ALEDA staff members, Assistant Director Ryan Nolander and Assistant, Nancy Jensen; Albert Lea City Manager Victoria Simonsen and other City staff; along with Jim Krueger and his staff at reeborn-Mower Cooperative Services.  Kevin Kelleher with the Minnesota Department of Employment and Economic Development was also actively involved.

The total estimated cost of the road project is about $1.4 million, with just $709,670 coming from the federal grant, $250,000 coming from the State grant, and about $460,000 coming from local funds through Greater Jobs Inc., depending on b ids for the project. 

Director Dorman added that the addition of the street will allow the Economic Development Agency to sell lland for much less than it would have had to if the road were not in place.

ALEDA has been working on developing the I35-I90 Business Park since it acquired the land in 2007.

Director Dorman said that some of the preliminary work for the road has already been completed, and they hope fo complete the rough grading for it this fall, and put the concrete into the road next spring, although the timeline could vary, depending on weather, etc.

PROXIMITY TO INTERSTATE 35 ..