1) The Touro College of Osteopathic Medicine in Great Falls is now accepting applications for its first class of students who will start next summer! See TheElectric. Alluvion Health won a $400,000 grant to open a child care center as part of its redevelopment of the former Roosevelt School. The new program will provide 40 employer-sponsored childcare slots; see TheElectric. The A&K Diner opened in Great Falls; see KRTV.
2) Visit Great Falls reports that August was Great Falls' best month for hotel room demand on record! The Great Falls market occupancy was 84.5% and ADR was $132.35, with many properties reporting higher occupancy and ADR. The Office of Tourism has recently updated the “Fast Facts” sheet available on BrandMT, Fast-Facts-Funding-20B.pdf (mt.gov). The 2021 Montana tourism impacts were significant, with 12.552 million non-residents visitors spending over $5.15 billion while supporting 47,810 Montana jobs. This tourism spending also contributed $387.84 million in state & local taxes.
3) Dr. Tiffany Hensley-McBain with McLaughlin Research Institute has received her first National Institutes of Health (NIH) grant. Learn more about how the funds will advance the institute's research on Alzheimer's in our Announcement of the Week.
4) Pitched Great Falls Montana to 23 Site Selectors from across the US at the Site Selector Guild Fall Forum! We also listened to what they need when they are searching for locations for their clients. Site Selectors represent large and mid-size company’s looking to expand, re-shore, or locate initial operations. There are 384 metropolitan statistical areas (like Great Falls) and 543 micropolitan statistical areas in the United States. We build strong relationships with site selectors and companies so that we rise to the top of their searches.
5) Congratulations to automotive entrepreneur Mike Schneider and his team on finalizing the acquisition of Jim Taylor Motors in Fort Benton! Mike moved to Fort Benton from Spokane in 2019 to begin the process of acquiring this business. The purchase was finalized September 7th with the name and product lines remaining the same. Source: The River Press
6) Last chance to register! Our Health and Bioscience Economic Development Strategy consultants will be back in town for a working retreat on September 28th. The Tripp Umbach team will join us in-person to share the results of their study and facilitate working groups with key players in our local health bioscience and education community. Retreat registration is available here.
7) Hosted an aerospace and defense company site visit facilitated by the Montana Department of Commerce. This company is looking for a manufacturing and testing location. Our job is to showcase Great Falls Montana as their best location. The schedule included site locations and meetings with business partners Montana Air National Guard, Northwestern Energy, and Great Falls Airport Authority. Thank you the many partners that come together to make site visits like this a success!
8) Catching up on a few things I missed in the Top 10 over the past couple of hectic months. TheElectric ran a great story on the multiple park improvement projects completed by the City of Great Falls using the park and recreation special district. TheElectric also wrote about the City of Great Falls adopting the latest international building codes as required by state law. KFBB ran a great story featuring Blackfeet artists who participated in the 2022 ArtsFest Montana in Downtown Great Falls. The Great Falls Tribune has been running a series about local artists and musicians.
9) Submitted our first low interest loan participation in the new Montana State Small Business Credit Initiative (SSBCI) program to help a local business to expand. We're processing several more potential deals to move projects forward that otherwise could not. 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 at [email protected] or 1-406-590-1056.
10) Yaron Goldman, CEO of Rib and Chop House, will be among the presenters at Invest Downtown to talk about their new downtown location. Invest Downtown 2022 will be on October 20th from 10 AM-Noon at the Newberry. We have some great tools that are available to help in your Downtown project. If you have been looking to start or expand your business in Downtown Great Falls, contact Christian at [email protected] or 406.836.0136. Invest Downtown 2022 is presented by Northwestern Energy.
11) USDA recently announced details of a $300 million investment in a new Organic Transition Initiative that it says will help build new and better markets and streams of income for farmers. Columbia Grain has made sizable investment across Montana and North Dakota to increase capacity and efficiency at 5 locations to better serve producers and offer more delivery options for commodities in this initiative. For more information on this program contact Columbia Grain or Justin at GFDA 406-590-1301.
12) We received our executed agreement from the EPA to launch a second Brownfield revolving loan fund that will enable us to help finance more redevelopment projects throughout Cascade County.
13) Lock in long-term fixed interest rates and lower your equity requirements for business real estate acquisitions, renovations, and expansions and long-term equipment purchases. SBA 504 rates for September, including all fees, are 5.437% fixed for 25 years, 5.338% fixed for 20 years, and 5.320% fixed for 10 years. Some refinancing is also eligible. Contact Jill Kohles at [email protected] or 406-590-1056.
14) The Made in Montana Food & Gift Tradeshow will be held in Helena on March 10-11, 2023. Exhibitor applications open October 19th and spaces sell-out fast. The Montana Manufacturing Extension Center is offering a series of excellent workshops and trainings this fall.
15) We are already planning for IGNITE 2023! This event is our annual kickoff where we announce projects and major investments in the Great Falls area that are starting or finishing in 2023. If your project, or one you know of, meets these criteria please reach out to Jake Clark at [email protected].
16) Brett, Christian and Jake participated in the International Economic Development Council's annual conference in Oklahoma City, sharing and learning economic development trends and innovations. Jake and I presented an interactive session on housing and childcare that attracted over 100 economic developers from around the world. Met with federal economic development leaders, BNSF, colleagues in Alberta and North Dakota, and site selection consultants. We were the only Montana economic developers at the conference. Christian is a speaker on an upcoming IEDC webinar on Downtown Revitalization called Down by the Storefront on October 6th.
17) Join our great economic development team! GFDA is looking to add a Business Development Officer to expand our efforts to attract investment in food, ag and bio processing industries in the region. Help existing businesses to expand and new businesses to start-up. Target and pursue companies elsewhere to expand into our region. Here is a complete position description. Send cover letter and resume to Brett at [email protected]. GFDA is proud to be an Equal Opportunity Employer.
18) We issued our FY2022 Audited Financial Statement -- another clean audit! Our Executive Committee approved an agreement with the Great Falls Business Improvement District which shares the salary and benefits expenses of our Downtown Business Development Officer -- 50% City of Great Falls Downtown TIF District, 25% BIDF, and 25% GFDA. Thank you for supporting downtown economic revitalization!
19) GFDA is able to continue our work because of the support from our public partners and INVESTORS. Without them, we couldn’t provide our clients the tools resources they need to help them succeed. Recent investments include: Advance Division—Energy West and Northwestern Energy. Their continued support in our work is helping to drive the growth in our community. If you want to join our team of investors, contact Investment Director Jenn Gallmeier at 406-781-9499 or [email protected].
20) This week we submitted a major grant application to the Community Development Financial Institution Fund, part of the United State Treasury. The Equitable Recovery Program was created as part of the ARPA Act to help areas most impacted by the pandemic to recover. If we win an award, which we won't know until 2023, we will use the funds to help finance workforce housing developments in census tracts most affected by the pandemic throughout the Golden Triangle -- the 13-county Great Falls trade area.
We have great momentum headed into the fall season. Let's keep moving projects forward and help entrepreneurs, businesses, and developers to announce new projects!
Brett
Brett Doney
President & CEO
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"When your values are clear to you, making decisions becomes easier."
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