One of Initiative Foundation’s major projects is a $10 million economic development loan pool that is focused on manufacturing in the region. The Foundation also has a focus upon the creation of intellectual property in the region, funding a special technology capital fund.

Kalliszewski spoke in particular about two MN towns that they have assisted, “We started working in Wadena, MN, a town of about 3,500. The wife of one of the town’s bankers brought up the idea of redoing their downtown. We told them it would probably take $3 million to do what they envisioned. They put together $3.5 million to make their downtown into a jewel. And, this is a town that isn’t on either a lake or an interstate, which many people up here think is critical. Wadena today has an incubator for entrepreneurs that has helped to start 20 or 25 new businesses. They have redone their old railroad depot into a convention center and have started a new youth center, called the Youth Café.”

“Another example is Taylor Falls, MN which has less than 1,000 people. They sit on the St. Croix River. They decided to turn their downtown around so that it faced the river. They built a boardwalk on the river side and have completely redone the image of their community.”

I’ve said many times before, but will continue to stress the importance, a community foundation has the ability to accomplish great things. If you don’t have one...start one today!