|
1) Jake, Jolene, and I travelled to the Las Vegas Nevada area touring the impressive Roseman University of Heath Sciences campuses along with GFDA Investors and Mayor Cory Reeves. We also met with manufacturing and housing developer prospects.
2) Cost of living data for 2023 was released by the Center for Regional Economic Competitiveness (C2ER). The Great Falls MSA (Cascade County) cost of living for the year was 86.1% of the national average. Our housing costs were 65.1% of the national average. Billings cost of living was 102.1% and housing 94.6%. Bozeman cost of living 120.6% and housing 151.6%. Fargo cost of living 98.1% and housing 84.1%. Spokane cost of living 101.1% and housing 90.6%. Boise cost of living 104.6% and housing 107.0%.
3) GFDA has several different options to help a business owner or developer with their project needs, including gap and bridge financing tools that we offer. We closed a $457,900 bridge loan to Robyn’s Nest Daycare to help facilitate the purchase of a property for the expansion of her childcare facility. It will be exciting to see this expansion from the remodel stage to opening the new facility with up to 100 additional childcare slots in Great Falls! If your business needs assistance with financing to start, grow or innovate please contact Jill Kohles at 1-406-590-1056 or JKohles@GrowGreatFalls.org.
4) JobsEQ Preliminary data for 2023Q3 was released. Our average annual wage year-over-year (YOY) increased 4.1% in the Great Falls MSA, 58% greater than the 2.6% national increase. The average local job paid $2,038 more in annual earnings for the four quarters that ended 2022Q3. Total wage earnings YOY increased by $96 million in Cascade County, climbing above $2 billion for the four quarters ending 2023Q3.
5) Union Bethel African Methodist Episcopal Church in Great Falls won a $200,000 grant to renovate their historic structure. The church began holding services in Great Falls in 1890 and built their current structure in 1917; see KRTV. Congratulations to Kelly Stephens on opening Reptile Universe just west of Great Falls; see KRTV. Artist Alex Smithson unveiled his newest sculpture for the Rivers Edge Trail; see KRTV.
6) The towns of Choteau, Dutton and Fairfield were among communities in the state that will receive grants to help with infrastructure planning and improvement; see Choteau Acantha. The Central Montana Medical Center Cancer Center in Lewistown received a $1.5 million donation from philanthropist Norm Asbjornson; see Lewiston Argus.
7) The GFDA board commissioning an update of the 2021 Housing Market Demand Assessment by the Concord Group in collaboration with our local housing partners. The market has changed considerably in the last three years. We believe the update will document even greater demand and market support for more housing production. If you are interested in developing housing in Great Falls and Cascade County please reach out to Jake Clark 1-406-403-4937 or Jake@GrowGreatFalls.org.
8) Exciting developments are underway for Downtown Great Falls, led by The Block and Enbar group. Their upcoming additions of Big Dipper Ice Cream and Sidequest Barcade promise to bring new energy and innovation into the downtown scene, offering new experiences to enjoy. For more details on these exciting ventures, check out KRTV. Downtown presents a ton of untapped opportunities for those interested in joining this vibrant area. Whether you're an entrepreneur looking to start a new venture or an investor seeking promising prospects, now is the perfect time to explore the possibilities. To learn more and get involved in shaping the future of Downtown Great Falls, reach out to Christian at 1-406-836-0136 or email CLeinhauser@GrowGreatFalls.org.
9) What are you selling? Regardless of what you are selling, customers seek benefits and solutions to their problems. Emphasize these points and the sales process becomes much simpler. Always think what value are you providing with your products or services? What value do you deliver to the customer? Which one of your customers’ problems are you helping to solve? What bundles of products and services are you offering to each segment? Which customer needs are you satisfying? What is the minimum viable product/service? Ask yourself, are you providing something new? Are you offering customization? Is it a modern design? Is it the quality, the price, cost reduction, accessibility, or convenience? Need help guiding you through the questions and answers? please reach out to Alan Gohary at AGohary@GrowGreatFalls.org or 1-406-750-0314.
10) We have opened Fire Within Award nominations Celebrating Entrepreneurial Women. The Fire Within program began 13 years ago to celebrate female entrepreneurship in the Great Falls Region. Recognizing and honoring women in business is essential for fostering a supportive and inclusive entrepreneurial community. It not only celebrates individual accomplishments but also serves as inspiration for others who may be considering entrepreneurship. We look forward to celebrating our women entrepreneurs, dimension, sacrifice, style, and approach to our business ecosystem with GFDA. Learn More. Deadline: March 3, 2024
Inspire nominations | Aspire nominations
11) LOW INTEREST RATE LOAN FUNDS-GOING TO MOVE FAST. GFDA is an approved economic development organization with the State Small Business Credit Initiative 2.0 (SSBCI 2.0) low interest rate program. The state is expecting their third tranche of funding any day now and it is on a first come first served basis. If you have a project that could move forward with the benefit of low interest rate funding start talking with GFDA now. These funds can be used for business purposes including purchasing real estate, equipment or working capital. If you have a business startup or expansion planned that could benefit from a loan participation, contact Jill at JKohles@GrowGreatFalls.org or 1-406-590-1056.
12) The GFDA Small Business Development Center can walk you through the steps of startup, business growth, selling or acquiring a business, business planning, and cash flow projections. For a no-cost business consulting, Click here to sign up.
13) Developers of renewable energy received good news last week. The Bureau of Land Management is planning to release over 200,000 acres of public land in Montana to be potentially developed for utility scale solar farms. If you are a rural small business (not working out of your home) or an agricultural producer who is also interested in solar, there may be federal funding opportunities for you too. Reach out at Anna@GrowGreatFalls.org or 1-406-590-1301.
14) If you're actively seeking government contracts and don't have a BidMatch profile yet, now's the perfect time to get started. BidMatch is a free service available to active APEX clients that serves as a "one-stop-shop" to streamline your efforts when searching for that next window of opportunity. BidMatch can provide small businesses an edge by automatically scanning federal, state, and local government contract opportunities that match their company's capabilities and sending those opportunities directly to their inbox. To learn more about how BidMatch may benefit your business, contact Shannon Clancy at SClancy@GrowGreatFalls.org and if your actively pursuing government contracts and haven't signed up for Great Falls APEX services, CLICK HERE to get started!
15) Are you a real estate developer, start-up entrepreneur, or expanding business seeking equity? Great Falls Development Alliance is planning our inaugural Angel Investor Networking Event. The purpose of this event is to connect those seeking equity with potential equity investors. Unlike similar events, we won't play matchmaker – it's up to you to strike up conversations, share ideas, and build relationships. For more information, and assistance refining your equity ask, contact Al Gohary at AGohary@GrowGreatFalls.org or call 1-406-750-0314.
16) We need your help! We are looking for accredited investors to join us at Great Falls Development Alliance’s inaugural Angel Investor Networking Event. The purpose of this event is to connect those who are looking for strategic investment opportunities within the Great Falls region with real estate developers, start-up entrepreneurs, and expanding businesses who are seeking equity. If you are an accredited investor looking to put your money to use in the Great Falls region, contact Tyler Menzales at TMenzales@GrowGreatFalls.org or call 1-406-217-7862.
17) GFDA's Board appointed Jim Wingerter, MDT District Administrator, Matthew Phillips of Midway Rental, Robert Worden of VisionNet, and Clancy Sivertsen of the Little Shell Tribe to the GFDA Council. Welcome!
18) I enjoyed speaking on a national Aspen Institute webinar that gave Great Falls some good exposure.
19) Our partner the Great Falls Area Chamber of Commerce is seeking a President and CEO for a member-driven, nonprofit organization established in 1888 by a group of local business people. Since its inception, the Chamber has been instrumental in promoting, protecting, and serving the business community. Download job description. Submit your resume and cover letter by Friday, February 23rd to applications@greatfallschamber.org.
20) The success of economic development hinges on the support of our investors and public partners. Learn more about them by viewing this short video. Recent investments include: Advance Division—ADF International; Leadership Division—Stockman Bank; Pacesetter Division—Hybrid Steel Design; Community Division—All Around Construction of Great Falls; The Wendt Agency; Supporter Division—Dustin Young & Company. Every dollar invested and every partnership forged is a cornerstone of progress, building a foundation for sustained growth and success in our region. To join our team of investors and become a driving force behind the economic development of our region, contact Investment Director Jenn Gallmeier at 1-406-781-9499 or Jenn@GrowGreatFalls.org.
Sorry this is so late. It's been a busy start to the year which is what we love!
Brett
Brett Doney
President & CEO
1-406-750-2119
BDoney@GrowGreatFalls.org
Connect with me on LinkedIn to network with the Great Falls Montana region.
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 must encourage their organizations to dance to forms of music yet to be heard."
Warren Bennis
Edition 618
| 
