Boosting rural economies

Rural regions in the U.S. too often rely on the success of one or two key industries for survival. But boom and bust cycles have repeatedly demonstrated the need for economic diversification.

More than three decades ago, the McKnight Foundation created the Minnesota Initiative Foundations (MIFs) to help strengthen the communities and economies of greater Minnesota. The foundations provide grants, business loans and leadership programs in rural regions of the state.

Elk River collaborates on a key MIF initiative, the Regional Economic Development Group, which advocates for regional development and encourages business and workforce growth in greater Minnesota.