Economic Development Authority

The City of Brainerd Economic Development Authority (EDA) is your first-stop for business development assistance in Brainerd, including:

Site selection for large or small business
Business expansion and relocation financing resources
Referral source for business start-up assistance
Redevelopment assistance
Gap financing referrals
Economic development rates on utilities

The EDA is dedicated to enhancing Brainerd's economic vitality and expanding tax base and employment opportunities within the city limits. We are committed to working with you whether you have an existing business in the city or are thinking of relocating or expanding into our community.

The Brainerd EDA is committed to helping businesses of all sizes feel at home in the economic center of the Brainerd Lakes area.

The City of Brainerd has had a bond rating of AA- from Standard and Poors for years and currently has a stable outlook. According to Standard and Poors: "An obligation rated 'AA' differs from the ['AAA'] obligations only to a small degree. The obligor's capacity to meet its financial commitments on the obligation is very strong."

Opportunity Zones

Opportunity Zones was created by Congress in the 2017 Tax Cuts and Jobs Act to stimulate investment in low-income communities throughout the United States. Investments in Opportunity Zones must be made through a partnership or corporation, commonly known as Qualified Opportunity Fund (QOF).

Federal Tax Incentives include capital gain deferral and partial gain exclusion on realized gains reinvested in Opportunity Funds as well as full gain exclusion on appreciation of the Opportunity Fund itself, if the investment is held for 10 years.

Vision Documents

These documents provide framework and priorities for which the EDA and staff can work within to enhance the tax base in the City of Brainerd.

City of Brainerd Comprehensive Annual Financial Reports

The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the City of Brainerd by the Government Finance Officers Association of the United States and Canada (GFOA) each year since 1993. The CAFR is submitted annually for consideration. The certificate is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

Partners

Industrial Lots

Meetings

7:30 a.m.
Meets as needed
The Monday prior to the regular Council Meeting
Council Chambers

Agendas & Minutes

View current and previous agendas and minutes

Members

Wayne Erickson - term expires 09/07/2022
Yvette Campbell - term expires 09/07/2021
Ed Menk - term expires 09/07/2021
VACANT - term expires 09/07/2020
Jerry Sinner - term expires 09/07/2025
Alderman Kelly Bevans (Council Liaison) - term expires 12/31/2022
Alderman Gabe Johnson (Council Liaison) - term expires 12/31/2022

Authority

Recommended by Mayor, Approved by Council

Purpose

Advise City Council on economic development issues i.e. tax increment financing, revolving loan fund applications, business expansion and retention, downtown grant applications, and annexation.

Committee Membership

The Commission is comprised of five members elected from the general public and two Councilmembers. Councilmembers term coincides with their term of office.

Qualifications to Serve

Be a resident of the City of Brainerd or have an ownership interest in a business or other property within the City of Brainerd.
Background in economic development, banking and/or finance areas may be helpful.

Length of Term

6 years
Terms run 9/7 to 9/7 of each year other than Council Liaisons

Compensation

Volunteer