Recognizing and Recognizing and Strengthening the New Strengthening the New

Rural EconomyRural Economy

Jack M. Geller, Ph.D.Jack M. Geller, Ph.D.Geller & AssociatesGeller & Associates

Mankato. Minn.Mankato. Minn.

We all know that Rural Minnesota is a We all know that Rural Minnesota is a Diverse PlaceDiverse Place

Diverse in its scenery and topographyDiverse in its scenery and topography Diverse in it’s economy.Diverse in it’s economy. Diverse in its demographyDiverse in its demography Diverse in its culture.Diverse in its culture.

In the end, how you view rural MN is a function In the end, how you view rural MN is a function of where you sit.of where you sit.

But where there is diversity there is But where there is diversity there is also commonality. So what do the also commonality. So what do the

following have in common? following have in common?

A graphic artist in Pine River - A graphic artist in Pine River - A custom cartographer in Springfield - A custom cartographer in Springfield - An PDA repair service in Mankato -An PDA repair service in Mankato - A iPod repair service in Granite Falls -A iPod repair service in Granite Falls -

The AnswerThe Answer

They represent entrepreneurial They represent entrepreneurial businesses on the leading edge of businesses on the leading edge of

the New Rural Economy.the New Rural Economy.

What is the New Rural Economy?What is the New Rural Economy?

It’s the emergence of entrepreneurial It’s the emergence of entrepreneurial knowledge and technical skill workers who are knowledge and technical skill workers who are starting up and/or nurturing their small starting up and/or nurturing their small businesses all over rural Minnesota.businesses all over rural Minnesota.

New Economy Entrepreneurs:New Economy Entrepreneurs:

Bring new technology businesses to rural MN.Bring new technology businesses to rural MN. Bring young families seeking a rural lifestyle.Bring young families seeking a rural lifestyle. Make disproportionate contributions to our Make disproportionate contributions to our

rural economy.rural economy. Are virtually invisible to our economic Are virtually invisible to our economic

development professionals.development professionals.

What do they need?What do they need?

A community that will help them nurture their A community that will help them nurture their business as well as their families.business as well as their families.

Affordable housing.Affordable housing. Business-class broadband and technology Business-class broadband and technology

services.services. Daily FedEx/UPS delivery.Daily FedEx/UPS delivery. Reasonable infrastructure costs.Reasonable infrastructure costs.

While they are now modest in While they are now modest in numbers, don’t underestimate the numbers, don’t underestimate the ability of these New Economy ability of these New Economy entrepreneurs over time to change entrepreneurs over time to change the dynamics of our rural economy.the dynamics of our rural economy.

Steps communities can take to encourage Steps communities can take to encourage more New Rural Economy entrepreneursmore New Rural Economy entrepreneurs

1.1. Economic development professionals should Economic development professionals should seek out these entrepreneurs to better seek out these entrepreneurs to better understand their needs and motivations.understand their needs and motivations.

2.2. Telecom companies and local leaders should Telecom companies and local leaders should work together to ensure quality broadband work together to ensure quality broadband services are accessible and affordable. Is your services are accessible and affordable. Is your community designated by DEED as e-community designated by DEED as e-commerce ready?commerce ready?

3.3. Ensure that overnight delivery services are Ensure that overnight delivery services are conveniently available.conveniently available.

Steps the state and regional entities Steps the state and regional entities can take.can take.

1.1. Work to create a spatially-separated Work to create a spatially-separated industry cluster of New Economy industry cluster of New Economy Entrepreneurs throughout rural Entrepreneurs throughout rural Minnesota.Minnesota.

2.2. The Governor’s new SEED Initiative can The Governor’s new SEED Initiative can potentially provide key support and potentially provide key support and financing for such businesses.financing for such businesses.

Thank YouThank YouFor more information contact:For more information contact:

Jack M. Geller, Ph.D.Jack M. Geller, Ph.D.

Geller & AssociatesGeller & Associates

(507) 381-0720(507) 381-0720

geller@hickorytech.netgeller@hickorytech.net