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

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Population

Population2000201020242029
BENCO Electric Cooperative102,758112,432120,736122,216

Source: ESRI, 2024-09-25

Population by Age

Population2024
0-46,537
5-96,960
10-147,018
15-1910,246
20-2413,239
25-297,878
30-347,511
35-397,419
40-447,562
45-496,248
50-545,876
55-596,006
60-646,736
65-696,590
70-745,405
75-793,990
80-842,603
85+2,910
18+95,867
Median Age36

Source: ESRI, 2024-09-25

Population by Race

BENCO Electric Cooperative2024
Total120,736.00
White Alone84.66%
Black Alone5.29%
American Indian Alone0.51%
Asian Alone2.19%
Pacific Islander Alone0.05%
Some Other Race2.19%
Two or More Races5.11%
Hispanic Origin5.56%
Diversity Index35.30

Source: ESRI, 2024-09-25

Growth Rate

BENCO Electric Cooperative2024 - 2029
Population0.24%
Households0.37%
Families0.27%
Median Household Income2%
Per Capita Income3%

Source: ESRI, 2024-09-25

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Housing

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Households

Population2000201020242029
Households38,69643,31747,44048,334
Housing Units40,94546,71751,32852,304
Owner Occupied Units31,19732,024
Renter Occupied Units16,24316,310
Vacant Units3,8883,970

Source: ESRI, 2024-09-25

Home Value

BENCO Electric Cooperative20242029
Median Home Value$291,564$352,747
Average Home Value$332,339$393,700
<$50,0001,6371,273
$50,000 - $99,9991,4491,127
$100,000 - $149,9991,9521,192
$150,000 - $199,9992,5511,348
$200,000 - $249,9994,6282,744
$250,000 - $299,9994,0693,633
$300,000 - $399,9997,2028,900
$400,000 - $499,9993,9225,868
$500,000 - $749,9992,5374,096
$1,000,000 +393560

Source: ESRI, 2024-09-25

Housing Year Built

Year RangeHouses Built
2010 or Later4,550
2000-20097,001
1990-19995,119
1980-19894,580
1970-19796,341
1960-19694,572
1950-19594,628
1940-19492,513
1939 or Before10,568

Source: ESRI, 2024-09-25

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Income

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Income

BENCO Electric Cooperative20242029
Median Household$73,976$82,972
Average Household$94,876$108,345
Per Capita$37,584$43,150

Source: ESRI, 2024-09-25

Household Income

BENCO Electric Cooperative2024
<$15,0004,998
$15,000 - $24,9992,731
$25,000 - $34,9993,909
$35,000 - $49,9994,470
$50,000 - $74,9997,843
$75,000 - $99,9996,551
$100,000 - $149,9999,177
$150,000 - $199,9994,358
$200,000+3,404

Source: ESRI, 2024-09-25

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Employees

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Commute

CategoryCommuters
Workers 16+63,413
In-County Residents42,877
Out-of-County Residents20,202
Drive Alone48,367
Carpooled5,010
Public Transport700
Work at Home6,094
Motorcycle95
Bicycle197
Walked2,234
Other599
Less than 5 minutes3,468
5-9 minutes11,633
10-14 minutes14,411
15-19 minutes9,897
20-24 minutes6,221
25-29 minutes2,224
30-34 minutes3,638
35-39 minutes878
40-44 minutes886
45-59 minutes1,855
60-89 minutes1,252
90+ minutes955
Average Travel Time0

Source: ESRI, 2024-09-25

Source: ESRI, 2024-09-25

Employees by NAICS

CategoryNumber
Total Employees71,979
Agr/Forestry/Fish/Hunt453
Mining148
Utilities133
Construction3,463
Manufacturing9,479
Wholesale Trade2,441
  
Retail Trade9,473
Motor Veh/Parts Dealers1,526
Furn & Home Furnish Str185
Electronics & Appl Store266
Bldg Matl/Garden Equip1,055
Food & Beverage Stores2,554
Health/Pers Care Stores616
Gasoline Stations134
Clothing/Accessory Store509
Sports/Hobby/Book/Music1,101
General Merchandise Str1,529
  
Transportation/Warehouse1,207
Information2,973
  
Finance & Insurance2,380
Cntrl Bank/Crdt Intrmdtn1,136
Sec/Cmdty Cntrct/Oth Inv542
Insur/Funds/Trusts/Other703
  
Real Estate/Rent/Leasing1,164
Prof/Scientific/Tech Srv2,302
Legal Services285
Mgmt of Comp/Enterprises83
Admin/Support/Waste Mgmt1,098
Educational Services8,923
HealthCare/Social Assist11,360
Arts/Entertainment/Rec1,066
  
Accommodation/Food Srvcs5,565
Accommodation924
Food Srv/Drinking Places4,641
  
Other Srv excl Pub Admin4,661
Auto Repair/Maintenance470
Public Administration Emp3,407

Source: ESRI, 2024-09-25

Educational Attainment (25+)

BENCO Electric Cooperative2024
<9th Grade1,330
Some High School2,361
GED2,294
Graduated High School17,842
Some College/No Degree14,949
Associates Degree11,628
Bachelor's Degree17,520
Graduate Degree8,812

Source: ESRI, 2024-09-25

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Businesses

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Businesses by NAICS

CategoryNumber
Total Businesses5,135
Agr/Forestry/Fish/Hunt Bus109
Mining Bus3
Utilities Bus14
Construction Bus422
Manufacturing Bus204
Wholesale Trade Bus169
  
Retail Trade Bus623
Motor Veh/Parts Dealers Bus94
Furn & Home Furnish Str Bus23
Electronics & Appl Store Bus21
Bldg Matl/Garden Equip Bus76
Food & Beverage Stores Bus106
Health/Pers Care Stores Bus56
Gasoline Stations Bus18
Clothing/Accessory Store Bus67
Sports/Hobby/Book/Music Bus113
General Merchandise Str Bus49
  
Transportation/Warehouse Bus151
Information Bus143
  
Finance & Insurance Bus298
Cntrl Bank/Crdt Intrmdtn Bus69
Sec/Cmdty Cntrct/Oth Inv Bus82
Insur/Funds/Trusts/Other Bus148
  
Real Estate/Rent/Leasing Bus232
Prof/Scientific/Tech Srv Bus313
Legal Services Bus56
Mgmt of Comp/Enterprises Bus11
Admin/Support/Waste Mgmt Bus142
Educational Services Bus152
HealthCare/Social Assist Bus532
Arts/Entertainment/Rec Bus118
  
Accommodation/Food Srvcs Bus309
Accommodation Bus46
Food Srv/Drinking Places Bus262
  
Other Srv excl Pub Admin Bus738
Auto Repair/Maintenance Bus115
Public Administration Bus272

Source: ESRI, 2024-09-25

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