The Agurban Issue 101 November 14, 2006

Innovative Regional Foundation

“We have 162 towns in our 14 county region, with 60% of them having a population of less than 1,000.” John Kalliszewski, head of the Initiative Foundation (http://www.ifound.org) in Little Falls, MN (population 7,719) was telling me about his innovative foundation. Initiative Foundation was set up in 1986 by William McKnight, one of the 3M founders. Endowed at $37 million, it is one of six regional foundations that McKnight set up throughout the state.

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!

The Blog Log
Visit my weblog to see where I’ve been and what I learned along the way. This week I blogged on Milan, MN, Eureka, SD, Orpah and Elko County, NV as well as several other topics. http://www.boomtowninstitute.com

On the Road Again
In addition to my travel blog I’ll list my upcoming engagements in each issue of The Agurban. Come see me when I’m in your neighborhood!

Jack’s Schedule – Week of November 13, 2006
Monday, November 13 – Waco, TX
Wednesday, November 15 – Las Vegas, NV
Thursday, November 16 – Phoenix, AZ
Friday, November 17 – Ponca City, OK
Monday, November 20 – Myrtle Beach, SC

Hot Topics
This month’s Hot Topic, Focus on Gen X, looks at reasons and ways your community can reach out to this demographic. Check it out at http://www.boomtowninstitute.com.

NOW AVAILABLE IN PRINT!!! Boomtown Institute’s ABC Volume One, Enriching Your Community One Letter at a Time! Order yours today at http://www.boomtowninstitute.com. Quantity discounts available!

BoomtownInstitute.com has a new look. Check out our updated and expanded website at http://www.boomtowninstitute.com!

Jack Schultz is the CEO of Boomtown Institute and Agracel Inc., an industrial development firm majoring in rural America, author of Boomtown USA, and speaker. Boomtown Institute serves as an economic development mentor to communities across the United States, leading communities to realize their full potential.
Visit the Boomtown Institute website at http://www.boomtowninstitute.com
Keep up with Jack as he tours the country on his blog!
To learn more about Agracel visit http://www.agracel.com.

email: [email protected]
phone: 217-342-3000
web: http://www.boomtowninstitute.com