The New Ulm Economic Development Authority (EDA) took a step toward improving the city’s economic growth on Tuesday, approving a $50,000 subsidy to the New Ulm Economic Development Corporation (NUEDC) to help cover the cost of hiring an ED coordinator.

Thus, they are renewing a relationship that existed for many years between the city and the NUEDC, a private, non-profit corporation devoted to encouraging industrial growth in the city. For many years, the city supported the salary of the economic development coordinator, but it decided three years ago to take that money and hire an assistant city manager/ED coordinator. That position disappeared this past year in city budget cuts, creating a vacuum in economic leadership.

Now the NUEDC will be able to hire a coordinator who will answer to them. As in the past, it should be a benefit to both the NUEDC and the EDA.

The EDA’s commitment is for one year, but we are confident the value of having someone spearheading the city’s growth efforts will prove valuable enough for continued city support in the years ahead.