Development Information

Owatonna has emerged from its agricultural heritage as a community with a diverse economy, including a strong industrial, financial and service base. Owatonna is the home of many nationally renowned firms such as Federated Mutual Insurance Company, Owatonna Tool Company (SPX), Jostens, Wenger Company and others. Unlike many rural Minnesota communities, Owatonna is experiencing annexations, increased traffic count, new building starts and new housing efforts, as well as street and airport improvements.

Owatonna's primary and secondary retail trade area consists of 285 million dollars of purchasing power. Ideally situated on three primary highway systems, Interstate 35 and U.S. Highways 14 and 218, Owatonna presents an ideal location for retail shoppers. The three shopping areas are the Cedar Mall/Oakdale shopping area on the south side, Hoffman Drive and the north side shopping area and the downtown area in the heart of the city. All three areas are united in their promotional efforts to make Owatonna an exciting place to shop.

Owatonna has a total of more than 500 retail, wholesale and professional firms supporting its large industrial base. Boasting over 40 industrial firms, Owatonna's business community provides jobs for a labor force in excess of 17,000 people.

The City of Owatonna owns four industrial parks: Crane Creek Industrial Site, Ebeling Industrial Area, Alexander Industrial Park and Sanders Industrial Addition. These four sites total an area of over 200 available acres within 1/2 mile of I-35, fully served by municipal infrastructure and direct rail access to the Dakota, Minnesota and Eastern Railroad, and Union Pacific Railroad.

The Community Profile for Owatonna containing detailed information about the city as well as listings of available commercial and industrial properties can be viewed at the Minnesota Department of Trade and Economic Development MNPRO website.

Southern Minnesota Initiative Foundation
Loan program for qualified for-profit organizations with interest rates not exceeding 10% and grant program for qualifying non-profit organizations.

Eligibility of Loan Clientele: Businesses engaged in technologically innovative projects, value- added manufacturing, agriprocessing, agricultural marketing, child care, elderly care, handicapped care, information industries, and tourism.
Service Area: 20 counties in southeast Minnesota
Contact: (507) 455-3215 or www.smifoundation.org

Owatonna Business Incubator
1065 24th Ave. S.W.
P.O. Box 505
Owatonna, MN 55060
(507) 451-0517
Fax (507) 455-2788
E-Mail dougj@owatonnaincubator.com

A non-profit organization since 1988, the Owatonna Business Incubator's goal is to provide a facility in which small and start-up businesses can grow, prosper, and contribute to the surrounding community's economic base

In 1998, a new 40,000 square foot facility was constructed which gives you access to:

• Manufacturing space with loading docks
• Convenient location and accessibility off I-35
• Shared Conference rooms, restrooms, parking.
• Office suites wired for phone and data.
• Copy & Fax Machines.
• Mail pick-up & delivery.
• Custodial & maintenance services
• Phone systems & furniture rental
• Referral to community expertise

The Owatonna Business Incubator offers virtually all the amenities a young business needs in this competitive business climate.