Coffee Republic is one of the many new developments on the 10th Avenue South commercial corridor in Great Falls.
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Here is our Top 12 for last week celebrating work and successes to grow and strengthen the Great Falls regional economy -- Montana's Golden Triangle. And, sharing business resources and skill-building opportunities to empower your success.
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1) JobsEQ preliminary data for 2022Q1 indicates that the average annual wage in the Great Falls MSA (Cascade County) increased by 6.7% in the twelve months ending with March, 2022. In dollar terms, the average annual wage increased by $3,028 over twelve months to reach $48,173. Total wages in the Great Falls MSA grew by $183 million or 11.2% in the four quarters ending in March. That's a great increase in local spending power. Employment increased by 277 from the end of December to the end of March which we were pleased with because the first quarter of the year is usually our slowest employment quarter.
2) Pitched our region to site selectors working in diverse industries from across the US who were attending the Logistics Forum in Colorado. This forum is limited to just 65 economic developers and provides learning sessions where the site selectors teach us how they approach their areas of expertise and how our community can amplify our presence. At this event we also have ample one on one time with the site selectors. Our favorite question posed was: is your community investable? Taking into account quality of life, quality of place, and quality of assets for businesses and industry. Reach out to Jolene with your thoughts or questions, 406.750.4481.
3) Alluvion Health is renovating the historic Rocky Mountain Building at 601 Central Avenue in downtown Great Falls to be the hub for all their healthcare services. Learn more about Alluvion Health's expansion in the Announcement of the Week.
4) The Great Falls International Airport won a Small Community Air Service Development grant that will be used to try to attract a new direct flight to Dallas Fort Worth. Thank you to the Low-Cost Airfare Initiative Partners, organized by the Great Falls Area Chamber of Commerce, who pledged matching funds for the grant and to Great Falls Tourism that has pledged to fund a $132,000 marketing campaign during the first two summers of service. GFDA is proud to have pledged $7,500 toward the effort. See TheElectric and Chamber press release.
5) We’ve already started seeing responses from Christian’s trip to Downtown Boise a few weeks ago. He went at the request of a developer and made good use of his time while he was there, visiting with other Developers and Restaurant groups. Since that trip, we’ve had 3 developers reach out to start conversations about possible investments in Downtown Great Falls, and the most recent one is looking to fly out to discuss opportunities in our market. If you have a great lead on a developer that is doing great projects in other Downtowns, send them over to Christian at CLeinhauser@GrowGreatFalls.org.
6) If you are looking to support entrepreneurs in the Great Falls region, look no further than the Great Falls Farmers Market. The Great Falls Farmers Market aims to grow commerce through community. The market runs every Saturday from the first week of June until the last Saturday of September. The market showcases over 100 vendors each week with offerings of fresh produce, baked goods, crafted items, and much more. There are still plenty of Saturdays left, so stop on by the Great Falls Farmers Market!
7) The GFDA Board voted to move ahead with the purchase of 224 acres of land in the Great Falls AgriTech Park. This first purchase of land will strengthen our ability to quickly close on future business investments and make us eligible to compete for infrastructure grants to build out future Park phases. Thank you to Cascade County and First Interstate Bank for helping make this possible.
8) We expect to soon launch a new low interest loan participation product in partnership with the Montana Department of Commerce that will provide 50/50 loan participations with your bank or credit union. These funds are limited and will be put to work very quickly to help our economy recover and come back stronger than ever. If you have a business startup or expansion planned that could benefit from a loan participation, contact Jill Kohles at JKohles@GrowGreatFalls.org
9) Met with Livability Media to begin planning the content of the 2023 Great Falls Livability talent attraction digital and print magazine.
10) Met with a major regional housing developer team on their 6th visit to Great Falls this year as they pursue local project opportunities. We continue to work daily with this developer and with several local developers on several potential housing development projects.
11) Participated in the annual retreat of the Economic Development Research Partners of the International Economic Development Council. GFDA is the only economic development organization in Montana to be part of this work that produces cutting edge practical economic development research that helps us continually improve our work to maximize impact on Great Falls and the surrounding 13-county trade area.
12) GFDA relies on the support from our INVESTORS. Without them, we wouldn’t be able to provide entrepreneurs & businesses with the resources and help they need to succeed. Recent investments include: Leadership Division—Montana Credit Union; Pacesetter Division—General Mills. Our community is thriving thanks to these and other investors. If you are interested in being a part of the team that is growing Great Falls, contact Investment Director Jenn Gallmeier at 406-781-9499 or Jenn@GrowGreatFalls.org.
So much activity! That's my excuse for being so late in getting this out.
Enjoy the fantastic summer Montana weather!
Brett
Brett Doney
President & CEO
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.
"Productivity is being able to do things that you were never able to do before."
Franz Kafka
Edition 544
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Great GFDA Career Opportunity!
We're adding a second Business Development Officer to focus on growing the Food, Ag & Bio Processing Industries in the region. Download Career Opportunity.
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
July SBA 504 Loan Rates
The 25-year loan effective rate (including all fees) came in at 5.107%; 20-year at 5.047%; 10-year equipment loan at 4.962%; and, 20-year refinance 5.061%; 25-year refinance 5.120%. 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 406-590-1056 or JKohles@GrowGreatFalls.org.
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Events, Business Training, and Opportunities
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Why do entrepreneurs participate in peer-to-peer roundtables? Because there is no substitute for hearing about the struggles of others at a similar stage of business. We have received 8 applications for our new PeerSpectives roundtable for second stage companies, but need 2-4 more. If your company is second stage, this structured and confidential just-in-time-learning opportunity helps navigate the pitfalls of operating a growing business. Contact Jason at JNitschke@GrowGreatFalls.org to complete a participant application.
The Montana Manufacturing Extension Center is offering some great workshops: Lean 101: Lean Lego on August 17th in Missoula; Demystifying Cybersecurity for Small Business live webinar on August 3rd; FSPCA Preventive Controls for Human Food (offered by TechHelp) at the University of Idaho in Post Falls on August 15-17; a CISA Region 8 Critical Manufacturing Sector Security Roundtable in Billings on August 30; and free Value-Added Product Sales Under the Local Food Choice Act workshops in Missoula on August 18, in Kalispell on August 19, and in Great Falls on September 30.
Do you have open government contracts? Is your SAM.gov registered due to renew in the next few months? SAM.gov continues to have issues with the transition from the DUNS Number to UEI SAM. It is recommended that businesses start early to renew their registration to keep from going inactive. If you are having trouble getting through the process, contact Shannon Clancy at SClancy@GrowGreatFalls.org for assistance.
Great Falls College MSU is offering four industrial technology courses this fall. Industrial Safety & Rigging and Fundamentals of Mechanical Systems begin on August 22nd. Fundamentals of Hydraulics & Pneumatics and Machine Shop begin on October 24th. Email Karry Hardman at karry.hardman@gfcmsu.edu or call him at 406-771-4366.
The Montana Indian Equity Fund (IEF) business grant is now open and accepting applications. Members of Montana’s eight federally recognized tribes are eligible to apply for up to $14,000 of business funding. This highly competitive grant program closes August 31st. For more information on the grant visit the IEF website. If you’d like help applying for the grant or have additional questions, call or email Rich Gannon at 406-836-2078 or RGannon@GrowGreatFalls.org
Invest Downtown 2022 will be held on October 20th from 10 AM-Noon at The Newberry and planning is currently underway. If you know of a great Downtown businesses to highlight or if you have an opportunity that is ripe for development, please email Christian at CLeinhauser@GrowGreatFalls.org or call 406.836.0136.
The new CDL truck driver training program at Great Falls College MSU will launch in August. Eight local employers are partnering to get it started, but more are needed. Thank you to Sysco, Meadow Gold Dairy Farmers, Gusto Distributing, City of Great Falls, REIC - Midway, Warden Paper, Holman Aviation, Hoven Equipment for partnering with the college! See CDL Business Partnership Framework. Congratulations to the College, Great Falls Job Service, Great Falls Area Chamber of Commerce and industry leaders for putting this together! Contact Tammie Hickey for more info at 406-771-5104 or tammie.hickey@gfcmsu.edu.
We're co-hosting the Montana Economic Development Conference at The Newberry in downtown Great Falls November 14-16; see Montana Economic Developers Association. The Building a Winning Montana Team conference will feature exciting panels discussing key Montana economic development issues such as housing, business attraction, talent attraction, tourism and economic development, tribal economic development, and value added agriculture. Keynotes will bring perspectives from other states and provinces, and from leading Montana industry associations and state leaders. Workshops include economic development ethics, new financing collaborations, and supporting local entrepreneurs and existing businesses. Download preliminary agenda. Sponsor a session! Contact Rebecca Myers at medaexec@gmail.com or me at BDoney@GrowGreatFalls.org.
Artsfest Montana is offering artist training on painting murals on Friday, August 12th from 10 AM to 3 PM.
The Great Falls Area Chamber of Commerce announced the inaugural Worlds of Work! (WOW). WOW is a career expo pioneered by West Alabama Works. Though NOT a typical job fair, this event opens new avenues of opportunity for middle school students they never knew were possible. The Chamber's goal this first year is to have sixteen Worlds, each representing one of Montana’s sixteen recognized career pathways. On October 18th, 2022, WOW will be held at Great Falls College – MSU and the University of Providence (inside and outside) from 7:30 AM - 6:00 PM. Area 8th graders will be divided into groups and will have a navigator who will guide them to each of the worlds, where they will explore for approximately 20-25 minutes before traveling to the next world. WOW Varsity, the block for high school students, will be in the late afternoon, and will include sophomores only for this first year. Check out the West Alabama WOW. Contact Scott Wolff for more info at swolff@greatfallschamber.org.
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.
Montana STEP grants can pay for 75% of your international export marketing efforts up to $10,000. The Montana TechLink Center at MSU is offering a new round of workshops on how to win Small Business Innovation Research funding.
What’s it like to live in Great Falls Montana? Get a glimpse through the Great Falls 2022 Livability Magazine! Livability Great Falls is a tool for recruiting people from outside our community and is one of the tools for our Talent Attraction campaign. We also have a Email List to share resumes of trailing partners and others and we promote Hot Jobs – jobs that would entice people to move here. If you are recruiting people from outside Great Falls, click here to join our recruiter email list and learn more.
USDA launched a Livestock Indemnity Program (LIP) to help compensate producers with their livestock losses incurred by adverse weather or attacks by animals reintroduced into the wild by the Federal Government. LIP payments are equal to 75% the average fair market value of the livestock. For more information visit the USDA website here.
We have migrated our pre-business workshop for early stage and pre-venture startups to a self-paced, video-facilitated, online format. Business Basics for Startups is now live and ready for beta testing. If you’d like to check out the content and provide feedback, we’d appreciate it. Click here to check out the new modules and resources. Please direct feedback to Rich at RGannon@GrowGreatFalls.org.
Montana Rapid Retraining funds are available to help more people enroll in workforce training programs and expand industry-driven accelerated workforce training courses. The Great Falls Job Service can assist with Rapid Retaining Efforts. Contact Beth Schmidt at 406-791-5869 or beschmidt@mt.gov. For business strategy/planning help to take advantage of this one-time opportunity, contact our Small Business Development Center (SBDC) regional director, Jason Nitschke at JNitschke@GrowGreatFalls.org
Attention Veteran-Owned Businesses! In less than a year the Department of Veterans Affairs (VA) Center for Verification and Evaluation (CVE) will transfer to the U.S. Small Business Administration (SBA). As of January 1, 2023, all functions of VA’s CVE will be handled by the SBA. To help make this a seamless transition, we encourage all self-certified SDVOSBs to complete the verification process through the VA now before the transfer becomes effective. Please start the verification process at https://vetbiz.va.gov/vip/. For more information on starting the verification process, contact Lillian Sunwall at LSunwall@GrowGreatFalls.org.
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.
The Montana Department of Commerce launched an investment matchmaking website for Montana business projects. The Opportunity Exchange’s - Montana Investment Portal is a website where investors can easily view and connect to projects in the state. Click here to view listed projects. Click here to get your investment project listed on the portal. For help posting your project or property on the Montana Investment Portal, contact Kristian Richardson at 406-841-2032 or Kristian.Richardson@mt.gov.
Join the Trailing Partner Email Group specifically for 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 will be sharing their resumes (with their permission) on the Trailing Partner Email Group.
Looking to take control of your business’s financials, increase profit, and improve your bottom line? We have had interest from businesses in scheduling a Profit Mastery course. These courses are scheduled by demand. If you are interested in taking this two-day workshop, contact Jason Nitschke at JNitschke@GrowGreatFalls.org or call (406) 750-0314.
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. The Great Falls At-A-Glance two-pager is a great complementary resource that highlights Great Falls for people unfamiliar with our community.
We have Brownfield Clean-Up money that we want to put to work! Our low interest Brownfield Loans can be used to clean up hazardous materials including but not limited to lead paint, asbestos, etc. Are you working on a project that could use some clean up? Call Lillian today to discuss eligibility 406.750.1253 or LSunwall@GrowGreatFalls.org.
Of our online business planning tool, LivePlan, one said: "LivePlan is Awesome!" The LivePlan tool is helping her streamline her strategy in preparation for presenting to bank partners. We offer LivePlan licenses for free to active clients. Learn more about LivePlan on our website.
All of our recorded monthly business strategy webinars are available online for viewing anytime, click them out here.
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Our Mission
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 and Lenders.
GFDA is proud to host a Montana Small Business Development Center, a Montana Procurement Technical Assistance Center, and a Montana Food & Ag Development Center. We are also proud to provide office space for MSU's Montana Manufacturing Extension Center and an SBA Women's Business Center in partnership with the University of Montana and the Montana Native Growth Fund.
GFDA was the first economic development organization in the Rocky Mountain West to earn accreditation from the International Economic Development Council.
For more info, click to our website.
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