The City of Preston’s Economic Development Authority (EDA) is committed to the growth and expansion of businesses, jobs and community development. The EDA can assist businesses with loans/grants, business development, site selection and connect entrepreneurs with the tools they need to successfully start a business. For more information on how the Preston EDA may be able to assist you please contact the Preston EDA at 507-765-2153 or contact us online CONTACT US.
EDA Board Members:
- Jon Ebner – Chair
- Julie Sogla – Member
- Jon DeVries – Member
- Ashley Winslow – Member
- Alison Leathers – Member
- Steve Hall – Member/City Council Representative
- Dean Aug – Member/City Council Representative
EDA Economic Development Projects
- Preston Livability Website – www.prestonmnchamber.com/livability This is a partnership project with the Preston Area Chamber of Commerce that showcases community assets. The tab offers those wishing to live or recreate in Preston the opportunity to gather information to make decisions or further inquire about why to live or recreate in Preston. This was partially funded through a SMIF grant.
- Minnesota Small Business Development Center Partnership – The City of Preston has a partnership with the SBDC office in Rochester which provides quality assistance and services to business and entrepreneurs. The SBDC offers at no cost, confidential consulting to help businesses in SE MN identify, understand and overcome the challenges of starting a business, running a successful business, and developing exist strategies. For assistance contact by phone 507-738-1003.
- Preston Historic Walking Tour – The Preston Historical Society walking tour is a self-guided walking or driving tour of the heritage of Preston. This project was a partnership between Preston EDA, Preston Historical Society and Preston Tourism. View the walking tour here.
- Spare Change Round Up Program – Preston Public Utility Customers can round up their utility bill in an effort to raise funds for non-profit groups in the community. Click Here to Download the Guidelines and Application
- Small Cities Development Grant – Completed in December of 2018. This program assisted with the rehab of 8 blocks around the Fillmore County Courthouse square in downtown Preston. It put $933,000 into projects. 70% of that was grants and 30% was low interest loans. Improved rental units and commercial buildings.
- Local Small Cities Development Grant – is an opportunity for businesses to take advantage of forgivable loans that help rehabilitate buildings and apartments in the downtown business district. Click Here for Guidelines
- Preston Housing Committee – was formed in 2018 to help uncover housing opportunities in Preston. This included working with the Preston Area Chamber of Commerce to create a Preston Housing Summit in 2018.
- Preston Housing Needs Study – updated in 2018. Click here to view.
- Fillmore County Housing Needs Study – Click here to view.
- SMIF Comprehensive Economic Development Strategy 2023 – Click here to view
Preston Demographics
Preston, MN has a population of 1,322 according to the 2020 census with a daytime population of 1728. Median age of 46.8 and a median household income of $45,556.
The median property value in Preston, MN is $185,507, and the home ownership rate is 71.8%. Most people in Preston, MN commute by driving alone, and the average commute time is 24.2 minutes. The average car ownership in Preston, MN is 2 cars per household.
The largest universities near Preston, MN are Winona State University, University of Minnesota-Rochester, and Saint Mary’s University of Minnesota. Technical colleges include Rochester Community and Technical College, Riverland Community College in Austin, MN and in Winona, MN, Minnesota State College-Southeast Technical
Preston is one hour from La Crosse, WI, one hour from Winona, MN, one hour from Austin, MN, forty minutes from Rochester, MN and forty minutes from Decorah, IA.
Southeast MN Economic Development Study
The Southeastern Minnesota League of Municipalities (SEMLM) in October of 2018, released a study with an updated economic forecast for southeast Minnesota, and options for several major policy shifts to accommodate population and employment growth over the next 25 years. Among the policy options and recommendations are zoning changes to support greater housing production, expanded transportation networks, a regional tourism strategy, immigrant support resources, and programs to increase access to childcare – all designed to grow the region’s economic development potential.
The study – the first of its kind in the region – forecasts long-range population, employment, and economic activity in the entire Southeastern Minnesota region, on a county-by-county basis. The region, composed of Dodge, Fillmore, Goodhue, Houston, Mower, Olmsted, Wabasha, and Winona counties, encompasses 77 municipalities, with more than 368,000 residents and 190,000 employees. Here is a Link to the study
Commercial Inventory
Click here for updated Commercial Inventory or call 507-765-2153 or contact us at CONTACT US
State Veteran Home – Preston
Follow the Minnesota Department of Veterans Affairs Future Home information by clicking here.
You can follow the Preston Veteran Home Support page by clicking here.
Find more information on the Preston’s Veteran Friendly Community Campaign click here.
Preston Housing Incentives & Information
The Preston Economic Development Authority facilitates Housing Incentives to promote new construction. If you would like to build a new home in Preston contact the Preston EDA at 507-765-2153 for more details. The incentive may include energy savings, free utilities, Preston Bucks, golf club memberships, Preston pool passes and waived permit fee and Utility Connection fees. A new Builders Package created for SPEC homes, click below for more info.
- Click Here to Download a BUILDERS PACKAGE APPLICATION NEW CONSTRUCTION (3 available in 2025)
- Click Here to Download a Homeowner NEW CONSTRUCTION Housing Incentive Packet (3 available in 2025)
- Download the 2018 Preston Housing Needs Update
- Visit the Livability Tab on our website for more housing tools and information
Preston Commercial Incentive/Improvement Revolving Loan Funds
The Preston Economic Development Authority operates a Revolving Loan Fund for business startups, expansions, and other commercial projects. The incentive is offered through a low interest rates and attractive financing terms.
- Click Here for Preston Revolving Loan Fund for Business Development
Local Small Cities Development Program Funds
- Opportunity for businesses to take advantage of forgivable loans that help rehabilitate buildings and apartments in the downtown business district. Click Here for Guidelines
- Funds are revolving from the Small Cities Development Grant that was completed in 2018.
- Contact Preston EDA at CONTACT US or call 507-765-2153 for an application.
PACE: Property Assessed Clean Energy (PACE) program in the state of Minnesota.
This program was created by the state legislature as a funding mechanism for renewable energy and energy efficiency upgrades for businesses and non-profits. Fillmore County passed a joint powers agreement with the St. Paul Port Authority making this program available to Preston businesses. The process generally starts with an energy use assessment. These can be any of the energy efficiency options available through Preston Public Utilities, or some other no-cost options available throughout the state. Here are a couple of links to learn more about the program, and read about some examples of its use in the region: https://www.minnpace.com/
Spare Change Round Up Program Preston Public Utility Customers can round up their utility bill in an effort to raise funds for non-profit groups in the community. Click Here to Download the Guidelines and Application