A step toward economic growth
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 ...