BENCO Electric Cooperative

BENCO Electric Cooperative Main Photo

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

121,331

Population
Growth Rate

0.21%

Median Age

36

Diversity Index

35.500

Source: ESRI, 2025-08-25

Housing & Income

Households

47,800

Total Housing Units

51,605


Owner Occupied

31,503

Renter Occupied

16,297

Vacant

3,805

Median Home Value

$300,093


Average Home Value

$341,550

Income
Growth Rate

Median
Household Income

0.00%


Per Capita Income

1.87%

Income Projection

Median Household

$71,710 $77,884


Average Household

$96,950 $105,639


Per Capita

$38,460 $42,202

Source: ESRI, 2025-08-25

Workforce

Total Businesses

5,057

Total Employed

71,637

Workers 16+

62,789

2025 HealthCare / Social Assistance

cp-industries

Businesses

543

Employed

11,998

2025 Educational Services - Businesses

cp-industries

Businesses

157

Employed

9,166

2025 Retail Trade Businesses

cp-industries

Businesses

622

Employed

9,164

2025 Manufacturing Businesses

cp-industries

Businesses

208

Employed

9,119

2025 Accommodation / Food Service

cp-industries

Businesses

301

Employed

5,477

2025 Food Service / Drinking Est.

cp-industries

Businesses

256

Employed

4,497

Some
High School

2,346

Graduated
High School

18,462

Associates
Degree

12,307

Bachelor's
Degree

17,913

Graduate
Degree

8,850

Average Commute Time

0 min.



Resident Commuters

42,837

Non-Resident Commuters

19,572

Drive Alone

46,725

Carpooled

5,448

Public

767

Work At Home

6,303

Source: ESRI, 2025-08-25