The Economic Development Authority for the City of Hector was established on July 7th of 1997. The EDA consists of a 7 member board. The City of Hector boasts a committed and aggressive Economic Development Authority. Its main goal is to attract and maintain new and old businesses, as well as look for ways to expand the economic base for the city of Hector through the use of grants, loan programs, and financial consulting. The EDA meets on the third Thursday of the Month at 7:00 a.m. in the Hector Community Center.