Organized in 1996, the Rural Electric Economic Development, Inc. (REED) Fund is a private-non-profit corporation governed by 17 Electric Cooperatives serving eastern South Dakota and western Minnesota. Its primary mission is to provide financing and help leverage private investment in small communities and rural areas needed to keep the rural economy viable and improve quality of life in the region. To accomplish its mission REED makes loans that support job creation, job retention, self-employment and community capacity building activities throughout the 36,000 square miles it serves.
REED's success is attributable to the member cooperatives' vision and active involvement in the region's economic development initiatives as well as to a federated approach to managing its financing activities in cooperation with East River Electric Power Cooperative, Inc. Electric cooperatives in this region have a strong history of collaboration and the REED fund is positive proof that cooperation works.
There have been a number of local organizations that have benefited and received assistance from the Rural Electric Economic Development Fund for start-up or expansion projects for more information contact H-D Electric Cooperative.
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