Business
Cannon Falls has a rich history of commercial and industrial growth and development, stimulated by the strategic location at the midpoint between the Twin Cities and Rochester. Cannon Falls has designated hundreds of developable acres in the City specifically for commercial and industrial projects. There are also opportunities for retail and service growth in the historic downtown, as well as development opportunities along Highway 52. For more information and business resources, please contact the local Chamber of Commerce at 507-263-2289, or Director of Economic Development and Planning, Dave Maroney at 507-263-9300.
Cannon Falls Economic Development Brochure
Business Assistanace
The City of Cannon Falls considers business subsidies a public investment in the community. Businesses considering a start-up, expansion or relocation are encouraged to meet with City staff early in the process to discuss the project and needs. If a business subsidy is requested, an application form will be presented which details the procedure and criteria that will need to be followed.
Business Planning
The first step is to have a complete and accurate business plan prior to site selection, seeking private financing, and developing construction plans. The Small Business Development Center (SBDC) provides Southeastern Minnesota area businesses with free technical and managerial assistance, and can help assemble your business Plan. Other resources for business planning are the Small Business Administration and SCORE, and the Cannon Falls Area Chamber of Commerce, organizations that provide assistance to small businesses and entrepreneurs.
Financing
The City of Cannon Falls is fortunate to have four local lending institutions, and all are willing and able to assist you with your financing needs:
Community Resource Bank
(507) 263-3624
31825 65th Ave South
Cannon Falls, MN 55009
First Farmers & Merchants Bank
(507) 263-4214
123 South 4th Street
Cannon Falls, MN 55009
Merchants Bank
(507) 263-4281
300 West Main Street
Cannon Falls, MN 55009
White Rock Bank
(507) 263-3030
31377 Co. 24 Blvd
Cannon Falls, MN 55009
Other financing sources available in Cannon Falls include:
- Economic Initiatives of Cannon Falls - contact Economic Development Director Dave Maroney
- City of Cannon Falls EDA Loan Fund - contact Economic Development Director Dave Maroney
- Cannon Falls Chamber of Commerce
- Minnesota Community Capital Fund
- Southern Minnesota Initiative Foundation
- Minnesota Small Business Administration
- Minnesota Department of Employment and Economic Development