What one small town is doing to revitalize downtown

Reader Carie Fuhrman, with the City of Princeton, Minnesota, shared this story on our contact form. Great stuff! –Becky 

By Carie Fuhrman

Downtown Princeton, Minnesota
Downtown Princeton, MN
Photo courtesy of City of Princeton staff. 

I’d like to tell you about what the Princeton, MN (pop. 4,698) community is doing to revitalize their downtown and help small business owners and entrepreneurs.

The Princeton community is offering an incentive package worth up to $20,000 for up to three winning businesses that will open in downtown Princeton by September 1, 2013. The package includes a $10,000 forgivable loan through the City, $6,500 worth of in-kind services from local businesses, and two landlords that are offering reduced rents for a period of time.

Details can be found at www.experienceprinceton.org under the It Starts Here Challenge.

This has been a collaborative effort between the existing businesses, Chamber of Commerce, City of Princeton, and interested residents working together to save our downtown, and we are really looking forward to the unique business possibilities that will come from this project to enhance downtown Princeton.

We modeled the challenge after a similar effort in Biddeford, Maine. I have spoken with their staff person, and they are very happy with the results from their project.

Thank you!
Carie Fuhrman

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About Becky McCray

Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband own a retail liquor store in Alva, Oklahoma, and a small cattle ranch nearby. Becky is an international speaker on small business.
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