Economic Development Authority



The Watertown Economic Development Authority (EDA) was created to serve as a resource to develop Watertown's local economy. The EDA is served by two City Council liaisons and three members from the general public. Members of the EDA are: Ken Grotbo (Chair), Corey MIttiness, Roxanee Wilems, Lindsay Guetzkow (City Council), and Deborah Everson (City Council). The City Administrator serves as the Executive Director of the EDA and as the primary contact.

The Watertown EDA is ready to work with existing businesses and new leads to ensure a robust and active local economy. The EDA has already partnered with downtown property owners for fascade improvements and new businesses in the Business Park.

EDA Initiatives

The Watertown Economic Development Authority (EDA) has resources available to grow your business in Watertown! The local community has a long history of supporting local businesses, either welcoming those who are new to town or an established businesses seeking to expand. The EDA and City Council have a proven track record of using creative economic development tools at their disposale to help the local economy thrive. In addition to the various economic development tools available to the EDA and City like TIF, tax abatement, etc. The EDA administers two grant and loan programs for various business uses.

To learn more about Watertown and the unique and important statistics about our community please view our Community Profile and Welcome to Watertown video.

EDA Staff Contact: Shane Fineran, City Administrator sfineran@ci.watertown.mn.us or 952-955-2681.

EDA Commissioner Vacancy

 The City currently is seeking citizen involvement on its Economic Development Authority. The Economic Development Authority (EDA) is seeking to fill one vacant seat with the term expiring December 31st, 2020. The EDA serves as the City’s economic and redevelopment agency, initiates economic development strategies, property redevelopment proposals, administers loans and grants, and has the ability to levy taxes and issue bonds to advance these activities. The EDA is made up of two City Council members and three citizen members. Appointed members of the EDA can be residents or owners of businesses located in Watertown. 

Citizens interested in applying for or with questions about the Economic Development Authority can contact Shane Fineran, City Administrator at sfineran@ci.watertown.mn.us or by calling 952-955-2681.

Commission Application

Properties Available in Watertown

Available Land or Sites

  • 101 Territorial Video Tour - Riverfront and Gateway parcel to the downtown area of Watertown. This parcel is eligible for TIF redevelopment incentive.

 

  • NE Watertown/Mill Ave Development Land - Approximately 118 acres of prime land available for residential development in the NE area of Watertown. Adjacent to the Forest Hills neighborhood and sweeping views of the Crow River valley.

Available Buildings

  • 609 Jefferson - Hwy 25 multi tenant space. Excellent visibility and access.
  • 300 Lewis Ave S - Excellent location in the heart of downtown, ample private and public parking. Adjacent to the Luce Line regional trail.

 

Building Facade Improvement Program

The Building Facade Improvement program aids businesses in commercial, industrial, and central business districts complete building envelope improvements.  The program provides up to $5,000 in loan assistance and up to $2,500 in grant aid to local property owners who make improvements on the facade of their building.  

Building Facade Improvement Program Details          
Building Facade Improvement Program Application

Revolving Loan Fund

 The EDA makes available resources to help a business fund start up through the Revolving Loan Fund program. Loan proceeds of up to $25,000 can be used for capital acqusition, capital equipment, property acquisistion etc. to help a business locate or expand in Watertown. The loan offers competitive terms and finance rates. 

Revolving Loan Fund Program Details
Revolving Loan Fund Program Application

Watertown For Life!

 A unique incentive program that provides grant funds for eligible projects that invest in the facade and interior of a home. Projects seek to increase the livability of the home for those aging in place or to meet the needs of contemporary home owners. Homes must be at least 35 years old. Up to $5,000 could be available in grant funds for eligible projects. 

Project detials page

EDA Meetings

The Watertown Economic Development Authority (EDA) meets on an "as-needed" basis.  A meeting can be scheduled by calling 952-955-2681 or info@ci.watertown.mn.us