The Wells Economic Development Authority (EDA) was established by the Wells City Council in 1989 to encourage, attract, promote and develop economically sound industry, business and commerce within the city of Wells. Since that time, the EDA has proven its ability to assist in the economic stability and growth of Wells. It has worked with everyone from the largest employer to the smallest family-owned business and it continues to work towards making Wells an economic development hub for southern Minnesota.

The EDA is capable of providing new businesses with the tools necessary to start-up or expand in our community and has worked with multiple funding agencies such as Region Nine, Southern Minnesota Initiative Fund and the MN Department of Employment & Economic Development.

EDA meetings are held on the second Thursday of each month at the Community Center starting at 5:00 pm. Any changes to meeting dates, time or special meetings will be posted in the lobby of City Hall.

Business Recources & Assistance:

• The  Wells EDA Commercial Building Enhancement Grant program supports the maintenance and updating of commercial buildings within city limits in Wells.

• The  Wells EDA Revolving Loan Fund is a source of gap financing for working capital, equipment, inventory and building construction and renovation. 

In addition, there are many other sources of financing that can assist a company in their location or expansion in the City of Wells.

•  Faribault County Commercial Rehabilitation Loan Program (FCDC) 
• Guide to Starting a Business in Minnesota
• Faribault County Development Corporation/Faribault County Economic Development Authority
• South Central Minnesota Small Business Development Center
• Minnesota Department of Employment and Economic Development
• Southern Minnesota Initiative Foundation
• Region 9