State Demographics

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.

BENCO Electric Cooperative

Population

Total Population

121,773

Population
Growth Rate

0.72%

Median Age

35

Diversity Index

27.600

Housing & Income

Households

47,715

Total Housing Units

51,315


Owner Occupied

32,613

Renter Occupied

15,102

Vacant

3,600

Median Home Value

$218,507


Average Home Value

$247,146

Income
Growth Rate

Median
Household Income

0.86%


Per Capita Income

2.22%

Income Projection

Median Household

$61,731 $68,189


Average Household

$76,669 $85,315


Per Capita

$30,245 $33,754

Workforce

Total Businesses

4,878

Total Employed

68,833

Workers 16+

62,922

2021 HealthCare/Social Assist

cp-industries

Businesses

479

Employed

11,208

2021 Manufacturing Businesses

cp-industries

Businesses

197

Employed

9,030

2021 Retail Trade Businesses

cp-industries

Businesses

643

Employed

8,917

2021 Educational Services - Businesses

cp-industries

Businesses

151

Employed

8,691

2021 Accommodation/Food Service

cp-industries

Businesses

270

Employed

5,460

2021 Food Service/Drinking Estab

cp-industries

Businesses

230

Employed

4,525

Some
High School

2,599

Graduated
High School

18,991

Associates
Degree

10,031

Bachelor's
Degree

17,779

Graduate
Degree

8,932

Average Commute Time

0 min.



Resident Commuters

41,596

Non-Resident Commuters

20,920

Drive Alone

50,075

Carpooled

4,532

Public

790

Work At Home

4,655