Northfield Realizes Gains by Reinvesting Companies | Southernminnbiz


Northfield town center businesses would benefit from a facade improvement grant from the Northfield Economic Development Authority (EDA). A press release says the Northfield EDA is pledging about $ 105,000 in grants, with the companies injecting an additional $ 260,000 in private investment. In downtown Northfield, 13 buildings will benefit in 2021. This is a jump from last year, when Northfield AED approved $ 10,000 for building facade improvements, this which generated a total investment of $ 33,650.

“With the recent Archer House fire, we know how connected the community is to its iconic downtown buildings and businesses. Memories are made in these buildings. Our historic downtown has helped define Northfield for generations. Northfield EDA is dedicated to investing in our historic downtown. Incentives like the Facade Improvement Grant are critical to Northfield’s long-term economic health, especially during this devastating pandemic. Northfield ACN welcomes the opportunity to work with community members to build stronger Northfield, ”said Nate Carlson, Northfield Economic Development Coordinator.

The Facade Improvement Grant is seen by the city as an incentive for downtown building owners to reinvest in the exterior of their buildings to extend the life of these structures. Northfield’s EDA matches private investment one by one up to $ 10,000.

One company that signed up was Merchants Bank.

“We are committed to creating a vibrant downtown in Northfield,” said Richard D. Estenson, vice president and head of business development for Merchants Bank. “We understand the importance of historic neighborhoods and businesses that connect well with the people of the region. For this reason, Merchants Bank did not hesitate to modernize the interior of the bank in the first year of its new downtown operations and spend a lot of money outside the bank while maintaining the historic integrity of the building.

Throughout the pandemic, the Northfield EDA and other local organizations provided financial and administrative support to all businesses working through municipal, state and federal grants and programs.

“It was very helpful to have received the support of the Town of Northfield and its AED with a Facade Improvement Grant to complete the project this year,” said Estenson.

The Facade Improvement Grant is part of Northfield’s strategic plan to strengthen, revitalize and sustain its downtown area.


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