Fairmont FAQs

The Fairmont Economic Development Authority (FEDA) supports existing businesses in Fairmont while attracting new ones. It encourages economic growth in Fairmont, Minnesota, making it a great place for residents to live and for new families to choose. FEDA is part of the Fairmont city government. 

There are multiple parcels of shovel-ready land available in Fairmont, Minnesota, along with existing buildings that are ready for new owners. FEDA makes it easy to explore available sites and buildings in the community and Martin County as a whole. The City of Fairmont is also a designated Opportunity Zone, making development in this area more affordable. 

Most available parcels in Fairmont are already connected to local utilities. The Public Utilities Commission serves 828 commercial customers, while the Municipal Water System has a storage capacity of five million gallons. Natural Gas is distributed by Minnesota Energy. Fairmont is built along I-90, with access to I-35. You can easily establish your supply chain here. 

FEDA is actively involved in the business community, starting with regular business visits. It meets one-on-one with business owners and entrepreneurs, identifying their needs and trying to address them. FEDA also offers a Revolving Loan Fund (RLF) to provide gap financing for those who need it. The Facade Program, Micro Loan Program, and Demolition Assistance are also valuable tools for businesses of all sizes.  

FEDA allocated around $1.95 million for an RLF to support businesses that need assistance with funding projects. The RLF provides gap financing to local companies, and the interest and principal repayments are used to fund additional loans in the community. FEDA currently administers around 35 loans through the RLF.  

Fairmont has a high quality of life, with many residents staying in the community from one generation to the next. Fairmont Area Schools boasts small class sizes and numerous extracurricular activities to support students' interests. Fairmont boasts 29 parks spanning 100 acres, located around a chain of 5 beautiful lakes, making it an ideal community for nature lovers. There is also a vibrant art community in the area for creatives. 

FEDA is taking a multifaceted approach to increasing housing inventory in the region. Along with attracting new developments, FEDA manages a rehabilitation loan program to support single-family and multi-family renovations. This makes it more affordable to repair homes, preventing them from becoming distressed to the point of abandonment. Preserving existing inventory creates housing for current and future residents alike. 

Fairmont is located two and a half hours from the Twin Cities, allowing for easy access to Minneapolis-St. Paul. Fairmont is also less than three hours from Sioux Falls, South Dakota, and Des Moines, Iowa. Fairmont is situated at the intersection of I-90 and State Highway 15, also near I-35, marking the intersection of the United States. The Union Pacific rail line also services Fairmont. Fairmont is the pork-producing capital of the United States, attracting agriculture and food manufacturing firms alike.  

Fairmont is an Opportunity Zone, designated by the Tax Cuts and Jobs Act of 2017. This makes moving here more affordable for businesses. There are also state, regional, and local incentives for business investment. The revolving loan fund, tax increment financing (TIF), and tax abatement all make it easier to choose Fairmont.  

Fairmont, Minnesota, has a population of 10,400, making it a small rural town. However, it offers several amenities that contribute to a high quality of life in the area. The arts community provides opportunities for creative exploration, while the 29 parks and five lakes offer endless fun. The local school district is also highly lauded for its college and career-readiness programs, including its winning robotics club and a large vocational offering. 

There are multiple ways to contact FEDA, whether you are a site selector, business owner, or resident. You can reach FEDA at:

(507) 238-3925
nkoppen@fairmont.org 
100 Downtown Plaza, Fairmont, MN 56031

FEDA staff and contact information are listed at fedamn.com, along with additional information about the organization.