BENCO Electric Cooperative

Blue Earth-Nicollet Cooperative Electric Association (BENCO) was founded on May 11, 1936. The first recorded meeting took place on June 12, 1937, at Mankato City Hall. The first pole on the BENCO system was set on June 27, 1938, in Traverse Township, Nicollet County. The line was energized on September 16, 1938. Faribault County Cooperative Electric Association was founded in 1936.

These two cooperatives consolidated into Blue Earth-Nicollet-Faribault Cooperative Electric Association (Frost-BENCO Electric) on January 1, 1980. Wells Electric Cooperative was founded in July 1935. Frost-BENCO and Wells Electric cooperative merged in January 1, 1988 and become Frost-BENCO-Wells Electric. In 1998, Frost-BENCO-Wells Electric became a Touchstone Energy® partner and began doing business as BENCO Electric.

Population

Total Population

120,213

Population
Growth Rate

0.18%

Median Age

36

Diversity Index

34.700

Housing & Income

Households

47,301

Total Housing Units

51,059


Owner Occupied

32,865

Renter Occupied

14,436

Vacant

3,758

Median Home Value

$255,218


Average Home Value

$292,799

Income
Growth Rate

Median
Household Income

0.00%


Per Capita Income

2.81%

Income Projection

Median Household

$70,223 $79,350


Average Household

$94,765 $108,086


Per Capita

$37,596 $43,181

Workforce

Total Businesses

4,991

Total Employed

70,794

Workers 16+

63,655

2023 HealthCare / Social Assistance

cp-industries

Businesses

509

Employed

11,411

2023 Retail Trade Businesses

cp-industries

Businesses

615

Employed

9,723

2023 Manufacturing Businesses

cp-industries

Businesses

199

Employed

8,687

2023 Educational Services - Businesses

cp-industries

Businesses

150

Employed

8,598

2023 Accommodation / Food Service

cp-industries

Businesses

288

Employed

5,608

2023 Food Service / Drinking Est.

cp-industries

Businesses

243

Employed

4,578

Some
High School

2,348

Graduated
High School

17,966

Associates
Degree

11,323

Bachelor's
Degree

18,396

Graduate
Degree

8,928

Average Commute Time

0 min.



Resident Commuters

42,531

Non-Resident Commuters

20,792

Drive Alone

49,065

Carpooled

4,737

Public

693

Work At Home

6,213