The NEC is a non-profit 501(c)(3) corporation formed in 2001 with the financial support of the Northfield Economic Development Agency (“EDA”). The NEC was created to promote economic development in Northfield by assisting the community’s entrepreneurs and businesses. From its inception, the NEC’s principle job has been to provide free business consulting services to start-ups and existing businesses. This has been and will continue to be the prime function and focus of the NEC. The NEC, however, has been involved in other aspects of economic development in Northfield as well. The NEC played an instrumental role in the creation of the Northfield Community Investment Fund (“NCIF”), a private investment fund whose target is investment opportunities in Northfield. After considerable effort by the NEC and the fund’s investors, the NCIF was formed in 2005.The NCIF closed in the summer of 2010. Starting in 2005, the NEC helped start and continues to administer the College Board of Business Consultants (“CBBC”), a joint project among the NEC, St. Olaf College, Carleton College, and a number of Northfield banks. The CBBC provides college students the opportunity to work with area businesses as unpaid interns. In addition to receiving college credit, CBBC students receive practical hands on business experience. The NEC also supports the efforts of the EDA and the City of Northfield economic development staff in recruiting businesses to relocate to Northfield.In 2007, the NEC played a prominent role supporting the EDA’s and City’s successful effort to attract ID Insight, a technology security company, to Northfield. In 2007, the NEC and the Rural Enterprise Center (“REC”) joined efforts to promote economic development among Northfield’s Latinos. In addition to sharing office space, the NEC and REC work jointly to provide business advisory services to this growing and vibrant segment of the Northfield community. The year 2007 also saw the NEC help establish the Experienced Business Advisors (“EBA”), a group of experienced Northfield business people who volunteer their time to help start-up and existing Northfield businesses. Throughout its existence, the NEC has worked closely with the EDA, which has provided the NEC with its funding.