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Carter Commons, the 24-unit senior affordable housing project we helped finance is making great progress! Huge thanks to Housing Solutions LLC for their investment in our affordable housing supply for Great Falls.

1) The economy in the Great Falls Montana trade area grew by 7.45% from 2022 to 2023 topping $10 billion, according to county GDP data released by the U.S.Bureau of Economic Analysis. This beat the statewide growth of 6.63%. GDP grew in the 12-county region from $9.54 billion to $10.25 billion, growth of $710,998 million. I excluded the northern part of Lewis & Clark County which is part of our trade area because data is only available for the entire county. Cascade County grew by 6.31% or $317,516 million to reach a total GDP of $5.35 billion.


2) Personal income in the Great Falls MSA (Cascade County) increased by 5.2% from 2022 to 2023, an increase of $2,969/person, according to data released by the U.S. Bureau of Economic Analysis. This was close to the national average of 5.4%.


3) This week we advanced three key projects that showcase the growing interest in North Central Montana. We hosted a virtual site visit with a company referred by the Department of Commerce, providing additional information to support their decision-making process. We also met with a site selector considering Great Falls for a potential development, who praised our region's robust infrastructure, abundant water access, and reliable power supply as among the best they’ve encountered. These factors are vital for attracting businesses looking for sustainable growth. Additionally, we continued assisting a value-added ag manufacturer exploring expansion into the area by connecting them with local resources and key contacts. We anticipate a site visit from them in early 2025, which could bring new opportunities for our agricultural sector. If you know of businesses seeking opportunities to grow in our region, reach out to Christian Leinhauser at CLeinhauser@GrowGreatFalls.org or 1-406-836-0136.


4) The Sip'n Dip is bringing a pedal trolley to Downtown Great Falls! See details and more business news in TheElectric's Business Bites.


5) The Big Sky Film Grant is open and closes Feb. 7, 2025. This grant program aims to build and support partnerships with filmmakers and production companies to create Montana film industry jobs. Up to $1.5 million in awards is available to filmmakers.


6) This week Christian Nichols, a Small Business Advisor with GFDA, facilitated a Boots to Business workshop at Malmstrom AFB for 13 active duty and guard service members interested in entrepreneurship. The comprehensive class provides fundamental insights into business formation, offering military personnel a structured introduction to the essential steps of launching and managing their own enterprise. By focusing on core business principles, the program equips transitioning military members with foundational knowledge to help them successfully navigate the challenging landscape of small business ownership after their military service. If you’re interested in starting a business, veteran or not, please reach out to Christian at 1-406-788-9385 or CNichols@GrowGreatFalls.org.


7) Over $14 million in funding was announced for major regional water projects including the St. Mary Diversion and Fresno Reservoir; see Havre Daily News.


8) We won a $2,214,285.72 loan capital grant from the Montana Department of Commerce to use to support the start-up and expansion of tourism-related businesses. These funds from the Montana Tourism Development and Enhancement Revolving Loan Fund Program will significantly increase our capacity to fill financing gaps and provide bridge loans to expand and diversify the region's tourism industry, also supporting many businesses that improve the quality of life for residents.


9) Calling all employers in our 13-county region! GFDA’s "Hot Jobs" newsletter is a powerful tool to showcase your employment opportunities and connect with top talent. By sharing your job openings, you’re helping diversify the economy, attract skilled professionals, and fuel regional growth. Let’s work together to build a thriving, resilient workforce.. Have a "Hot Job" to share? Contact Katie Carvell at 1-406-217-7635 or Katie@GrowGreatFalls.org


10) Jake testified in support of two proposed affordable housing preservation projects at the Great Falls City Commission meeting. Low- income housing tax credits are awarded through the Montana Board of Housing and projects proposed in Great Falls compete with those proposed throughout the state. Preserving our existing affordable housing stock is essential to keeping housing costs in check as our economy grows. Do you have a project ready to take the next step? Reach out to Jake Clark at 1-406-403-4937 or Jake@GrowGreatFalls.org


11) Erin Townsend from Bravera Bank delivered an excellent 30-minute webinar on navigating the small business loan process during our monthly small business webinar, co-sponsored by MSU Economic Extension. A recording of the webinar will be available here soon


12) With over 850 attendees and 130 booths, the Montana Grain Growers Association’s 69th Annual Convention and Trade Show is one of the largest Ag Conventions of the year. Several members of GFDA took part in the convention to network with producers and processors, learn about the threats and opportunities facing Montana’s commodity agriculture industry and fill our pipeline with exciting projects happening in our region. A big thank you to the Montana Grain Growers, the Montana Pulse Crop Committee, and the PNW Canola Association for hosting this event.


13) Join us for our IGNITE presentation on January 10th at The Newberry! Hear firsthand from local entrepreneurs, business leaders, and developers as they unveil innovative projects and share bold visions for the future. Whether you're a business professional, investor, or community supporter, IGNITE offers a front-row seat to the exciting transformations shaping our region. Don’t miss this chance to celebrate progress, connect with key players, and explore the latest opportunities driving our region forward! RSVP to save your seat! 


14) Want to present at Ignite 2025? If your business, government agency, or non-profit has a project launching or expanding in 2025 in the Great Falls Montana Region of North Central Montana, email Christian Leinhauser at CLeinhauser@GrowGreatFalls.org or call 1-406-836-0136 to get on the list!


15) Join our Great Falls Regional APEX and the U.S. Forest Service (USFS) at the SpringHill Suites, Big Falls Room, on Thursday, January 23rd, 2025, from 1:00 to 4:00 PM, to explore exciting business opportunities with the U.S. Forest Service. You’ll have the opportunity to network, present your capability statement, and connect directly with USFS representatives and potential partners. This is your chance to stay competitive and ready for the 2025 season. To register CLICK HERE! If you need to create a new capability statement or just update an existing one, contact Shannon Clancy at SClancy@GrowGreatFalls.org or 1-406-868-8343 and Mariah Liebing at Mariah@GrowGreatFalls.org or 1-406-217-2174. 


16) We are thrilled to announce the High Stakes Foundation has awarded GFDA a $10,000 grant to support the work we are doing through our Food & Ag Development Center. We will immediately put these funds to work supporting local businesses to create wealth and jobs for our communities, farms, and ranches while expanding Montana’s value-added agriculture industry. Thank you for putting your trust in us and believing in our work!


17) Interested in joining GFDA’s Investment Committee? This is your chance to make a meaningful impact on the economic growth and vitality of the Great Falls region. Whether you’re passionate about local development, building connections, or creating new opportunities, your voice is essential. Reach out to Jenn at 1-406-781-9499 or Jenn@GrowGreatFalls.org to learn more and take the first step in strengthening our community’s future!


18) Our investors and partners represent a diverse group of public/private sectors throughout the Great Falls Region. We could not operate without their support. Learn more about them by viewing this short video. Recent investments include: Advance Division—KRTV and Transystems, LLC; Flagship Division—Sletten Construction; Pacesetter Division--Wipfli, and Community Division—Belt Valley Bank. We are fortunate to have such an amazing team that not only supports our work but share our passion for the community. If you share that same passion and want to join the change, reach out to Investment Director Jenn Gallmeier at 1-406-781-9499 or Jenn@GrowGreatFalls.org.  


Our pipeline is packed with great clients working on exciting deals or working on making their businesses more profitable. Let us know of we can help your business startup or expansion or real estate development. We're hungry for more!


Have a great week!


Brett


Brett Doney

Great Falls Development Alliance

BDoney@GrowGreatFalls.org

1-406-750-2119


Connect with me on LinkedIn.


Forward the GFDA Top 10 to friends and colleagues. You can join our distribution list HERE or text GFDA to 22828.


Subscribe to the Grow Great Falls Montana YouTube channel!


Leaders don't create followers, they create more leaders..

Tom Peters


Edition 662

DOWNLOAD OUR ECONOMIC DEVELOPMENT STRATEGY
DOWNLOAD OUR GFDA SERVICES AND STAFF TEAM HANDOUT
DOWNLOAD 2024Q3 QUARTER INDEX

Cost-Effective Rail-Served Industrial Sites Available

If your company needs a rail-served, BNSF-Certified, shovel-ready site with all municipal services at your door, we have lots available for immediate construction in the Great Falls AgriTech Park. Contact Jolene Schalper at 1-406-750-4481 or JSchalper@GrowGreatFalls.org

DOWNLOAD AGRITECH FLYER

December 2024 SBA 504 Loan Interest Rates

The 25-year loan effective rate (including all fees) is 6.093%; 20-year at 6.160%; 10-year equipment loan at 6.459%; and, 20-year refinance 6.190%; 25-year refinance 6.122%. These rates are FIXED for the life of the loan and are inclusive of all fees. If you would like to find out how to get financing for commercial real estate and equipment at potentially lower rates than you're paying for your home mortgage, please contact Jill Kohles at 1-406-590-1056 or JKohles@GrowGreatFalls.org.

Events, Business Trainings & Opportunities

If you’re looking to expand or start your business through purchasing a commercial building for your future location, make sure to talk to Christian Nichols, Brownfields Project Manager, so we can see if you qualify for an Environmental Site Assessment paid for by EPA. You don’t know what environmental conditions or possible contaminates exist until you have an assessment completed. With our help you could save thousands of dollars and have confidence in your purchase knowing all contaminates are identified and assessed. For more information, please call Christian Nichols at 1-406-788-9385 or email at CNichols@GrowGreatFalls.org.


Cybersecurity is a top priority for the Department of Defense (DoD)! Is your business prepared for the new cybersecurity standards in federal contracting? If your company manages Controlled Unclassified Information (CUI) or Federal Contract Information (FCI), you must comply with specific standards. For contractors working with the federal government, the minimum requirement is Cybersecurity Maturity Model Certification (CMMC) Level 1. This self-certification verifies that your organization has implemented fundamental security measures to safeguard FCI. To begin your self-assessment journey, contact Shannon Clancy at SClancy@GrowGreatFalls.org or 1-406-868-8343 and Mariah Liebing at Mariah@GrowGreatFalls.org or 1-406-217-2174


Our GFDA Small Business Development Center Advisors helped answer some questions about the federal Beneficial Ownership Information (BOI) requirement. The Beneficial Ownership Information (BOI) reporting requires many companies doing business in the United States to report information about their beneficial owners - the individuals who ultimately own or control the company - to the Financial Crimes Enforcement Network. Registration is free and can be completed in online in a few minutes. To complete your company’s BOI- or to read more about the requirements visit this website. For additional small business advising reach out to Rich Gannon at RGannon@GrowGreatFalls.org or 1-406-836-2078.

Great Falls Regional APEX is assisting multiple businesses in preparing for small business set-aside certification programs. U.S. Small Business Administration (SBA) has resumed the certification application process. Verify your Eligibility for certifications such as WOSB, 8(a), HUBZone, and SDVOSB. To ensure you're prepared to apply for the certification that best suits your business, contact Shannon Clancy at SClancy@GrowGreatFalls.org or 1-406-590-1184.



Do you know the benefits of C-PACE financing for your multifamily housing project? Last Best PACE, Montana's program, brings value to Montana commercial building owners by improving their bottom line. Last Best PACE can cover up to 100% of eligible project costs and payments are repaid through a special property tax assessment with terms of 20+ years. Reach out to Jake to find out how this tool can help your project move forward Jake@GrowGreatalls.org or 1-406-403-4937. 



Are you planning any international marketing activities in 2025? The State Trade Expansion Program (STEP) run by the Export Montana team at the Montana Department of Commerce has a host of export support services and federal grants available for businesses up to $12,000. They're awesome to work with! Our Small Business Advisor, Rich Gannon, can help too and he is also awesome! RGannon@GrowGreatFalls.org or 1-406-836-2078.


Our freight logistics consultants, Moffat & Nichols, completed key findings of the Great Falls Region Freight Market Assessment and Economic Development Strategy Recommendations. This comprehensive study offers valuable insights into the logistics industry and its potential in our region. We have already begujn work implementing some of the recommendations. Others will need to wait until we work with our partners to secure more resources. Logistics are a key consideration for existing manufacturers in our region, and in attracting new investment in manufacturing operations.


Jake's webinar focused on housing development opportunities in Great Falls in partnership with Urban Land Institute is now available online with the access code: E#aZ48D2. Additionally, Jake's interview with David Saslav on "Voices & Views V2.0" is also available to stream online. 


Join GFDA’s APEX Team for Take Action! Move Beyond SAM! every third Wednesday for a high-level virtual training session that will add real value to small businesses looking to break into the government market. Hosted by APEX advisors from across Montana.


Is your SAM.gov registration due to renew in the next few months? It is recommended that businesses start early to renew their registration to keep from going inactive. Great Falls APEX can help you with through the process, contact Shannon Clancy at 1-406-590-1184 or SClancy@GrowGreatFalls.org for assistance. 



The Preventative Control Qualified Individuals (PCQI) certification is required for Food companies reregister under section 415 of the Federal Food, Drug, and Cosmetic Act (FD&C Act) barring any exemptions or modified requirements that might apply. If you are a local food business who needs a certified PCQI on staff, please reach out to Anna. We are putting together a list for an upcoming training. You can reach Anna at 1-406-590-1301 or Anna@GrowGreatFalls.org


The Montana Department of Commerce's Automation Loan Program is designed to extend financial assistance to Montana-based manufacturing enterprises seeking to upgrade, replace or expand their equipment. The program has extended the timeline for obligating funds through an executed commitment letter in this funding cycle to December 31st. Applicants are encouraged to work closely with participating lenders and program staff to ensure this deadline is feasible with the proposed project. Businesses, or lenders on behalf of a business, can apply on Commerce's website. Questions? Contact Patsy Rasch at Commerce at patsy.rasch2@mt.gov or 1-406-841-2748.


The USDA Agricultural Marketing Services has partnered with Cornell's Small Farms Program to offer 6 months of free introductory course for beginning urban farmers. If you are interested in beginning your own small farm in North Central Montana or would like to know how to sell your produce at your local Farmers Market, please reach out to Anna at Anna@GrowGreatFalls.org or 1-406-590-1301.  


The 2024 Great Falls Housing Market Assessment shows a need for 650 new housing units per year in the immediate Great Falls area. For assistance with housing development, contact Jake Clark at Jake@GrowGreatFalls.org or 1-406-403-4937.


Visit our relocation website LiveInGreatFalls.com. This website was the #1 request we got from local recruiters and HR professionals for aiding in attracting talented workers to Great Falls.


Great Falls Recruiters and HR professionals! Here is a link to our Talent Attraction Toolkit and the 2024 Great Falls Livability Magazine, part of our effort to help local businesses attract the talent they need for key positions. Join our Trailing Partner Email Group specifically for local employers to share resumes of trailing spouses/partners across the Great Falls region with other employers looking to hire. “Your (Live in Great Falls) website is very impressive and helpful! Great Falls looks amazing, and we love what we've seen real estate-wise, and business-wise.” This quote was from an email sent to us from a couple considering relocation to Great Falls. We share their resumes (with their permission) on the Trailing Partner Email Group.


The Great Falls Population Economic Impact Report documents an $88 million positive impact on the local economy from population growth in the last five years, and estimates economic impact of population growth over the next 10 years.


Manufacturers, if you don't get the monthly newsletter from the Montana Manufacturing Extension Center you are missing out on great training and other resources.


The Montana Department of Agriculture is partnering with the USDA and the Agricultural Marketing Services to help strengthen the resiliency of Montana food systems. Is your food company focused on middle-of-the-supply-chain activities such as processing, aggregation, or distribution of targeted agricultural products? If so, there is a new funding opportunity for your projects. Discuss this new opportunity and check your eligibility with Anna by reaching out at Anna@GrowGreatFalls.org or 1-406-590-1301.


Have you created or updated your Dynamic Small Business Search (DSBS) profile? A strong profile can significantly boost your contracting success by increasing your visibility to local, state, and federal agencies seeking goods and services. If you would like more information on how to create or update your DSBS profile, contact Shannon Clancy at SClancy@GrowGreatFalls.org or 1-406-590-1184.


USDA has launched a new online tool to assist small businesses in identifying procurement opportunities; see USDA's Procurement Forecast.


Zero to 5 has launched the Montana Child Care Business Connect website to help support the startup and expansion of early childcare businesses. The Great Falls Childcare Demand Assessment shows a need for additional childcare facilities to serve 580 children in Great Falls. For assistance with childcare facility business planning, contact Rich Gannon at RGannon@GrowGreatFalls.org or 1-406-836-2078.


One of the many tools we have for renovating your building in Downtown Great Falls is the City's Downtown Tax Increment Financing (TIF) Grant. This 50% match grant can help with Façade, Building Code Compliance, and Safety & Security. One of the biggest uses of this grant is Fire Suppression and updating the face of your building. To find out more about this grant, call Nicki at 1-406-750-2099 or Nicki@GrowGreatFalls.org. Let's discuss how TIF and other tools can help you change the face of Downtown Great Falls. 


Employers, are you looking for timely data on our local workforce? JobsEQ for Workforce is a software tool that provides timely data on our local workforce and employers—including demographics, occupations, wages, certifications, and more. Contact Jake Clark at Jake@GrowGreatFalls.org or 1-406-403-4937 to be connected with a JobsEQ-trained Business Advisor today. To learn more about GFDA's other talent attraction tools, visit our website


Recruiters, are you hiring for a job position that is:  

  • High level 
  • High salary 
  • Out-of-the-box/unique/creative? 

Help us attract workforce to move to Great Falls - send a one-sentence description of the job, 3-5 of your company's top employee benefits, salary (if listed), and a link to apply for your job to Tracy@GrowGreatFalls.org to be included in the Hot Jobs in Great Falls blog post.  


Cybersecurity challenges for businesses continue to grow. The Montana Manufacturing Extension Center (MMEC) is offering an array of useful resources to help Montana businesses to protect themselves.


USDA opened a new round of Rural Energy for America Program (REAP) grants and loans. Rural small businesses and agricultural producers can use the funds to make energy-efficiency improvements, lower operating costs, or install renewable energy systems. Quarterly competitions will be held. For for help applying, contact Anna Flies: Anna@GrowGreatFalls.org or 1-406-590-1301


The Montana Manufacturing Extension Center has launched the Certified Manufacturing Associate Apprenticeship program. This one-year program combines on-the-job training with online technical classes on safety, math and measurements, manufacturing processes, and quality control.


The Montana Innovation Partnership is offering a number of trainings and an accelerator program for companies interested in pursuing Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) grants.


The best resource we scan daily to stay abreast of business and community innovation is MATR.net (Montana Associated Technology Roundtables), which we are proud to help sponsor. Sign up for their free newsletter.

Our Mission is to Grow diverse economic opportunities that enhance quality of life.

GFDA is a certified Community Development Financial Institution and a 501(c)3 charitable organization. High Plains Financial is a certified Community Development Corporation that offers SBA 504 loans statewide. GFDA and High Plains Financial are Equal Opportunity Employers, Lenders and Providers.


GFDA is proud to host a Montana Small Business Development Center, a Montana APEX Accelerator, and a Montana Food & Ag Development Center. GFDA is a certified Montana MicroBusiness Development Corporation.


GFDA was the first economic development organization in the Rocky Mountain West to earn accreditation from the International Economic Development Council.

Great Falls Development Alliance | GrowGreatFallsMontana.org

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