Economic Development Authority (TEDA)

Be a part of Tower's future!

Located on the shores of beautiful Lake Vermilion, Tower is a great location to raise a family or grow a new business, and the Tower Economic Development Authority is here to assist. TEDA is one of the largest property owners in the city, and our properties are available for a wide range of development for potential partners. We have property well-suited for both residential and commercial development that offers direct access to Lake Vermilion, making it ideal for recreational residential, hotel lodging, or water-oriented commercial activities. We also have property suitable for light industrial/manufacturing.

If you’re looking for a partner for your project in Tower, give us a call today.

Why Tower?

In short, Lake Vermilion and quality of life.

National Geographic has named Lake Vermilion one of the ten most scenic lakes in the United States. This spectacular body of water, rimmed with pine and some of the oldest bedrock on the planet, stretches more than 30 miles east-to-west and holds over 365 islands. Lake Vermilion is also home to some of the best fishing in Minnesota, including highly sought species like walleye, northern pike, musky, and smallmouth bass.

The lake is also home to thousands of summer residents who come each year to take advantage of the lake’s tranquility and world class fishing.

Tower is located in the heart of Minnesota’s North Woods, surrounded by miles of wild public lands tailor-made for outdoor recreation enthusiasts. Lake Vermilion borders on the famed Boundary Waters Canoe Area, a pristine federally designated wilderness that encompasses 1.1 million acres and nearly 1,600 interconnected lakes.

Other amenities include:

• Gateway to Lake Vermilion and Bear Head Lake state parks
• Miles of cross-country ski trails beginning in the city limits
• Miles of spectacular hiking trails just minutes from downtown
• Located at the intersection of the Arrowhead, Taconite, and Iron Ore snowmobile trails
• Direct connection to the Mesabi Trail, a bike trail which stretches 140 miles from Grand Rapids to Ely.
• Downtown harbor with direct water connection to Lake Vermilion.
• Local schools serving grades K-12.

The Tower Economic Development Authority serves to promote business and to recruit new business. The Tower Economic Development Authority shall consider the interest and need of City residents, private businesses, and public organizations regarding community and economic development.

TEDA Roles and Responsibilities: Promote local businesses and local business expansion, recruit new business, collaborate with prospective businesses to gather market studies and research, encourage the development of housing within the city that is safe, diverse, and which gives our citizens affordable options to own a home, provide information regarding loan/grant programs, facilitate redevelopment districts, inventory lands and buildings available for development.