Great Falls Montana Economic Development Index 2023Q1

Having trouble viewing this email? View as Webpage

Great Falls Montana Economic Development

Index 1st Quarter 2023

Number of company and partner presenters at Great Falls Ignite 2023: 18

Montana Specialty Mills oil seed plant expansion announced at Ignite: capacity increase from 50 tons/day to 150 tons/day

Pasta Montana plant expansion announced at Ignite: $7 million

Number of 2023 Fire Within female entrepreneur award winners: 26

New developments in West Bank Landing planned for 2023: $26 million

Funds raised by C.M. Russell Museum’s Art and Soul of the West campaign: $40 million

Number of apartments planned in Discovery Meadows development approved by Great Falls City Commission during quarter: 264 units

Soon to be America’s largest producer of Sustainable Aviation Fuel (SAF): Calumet Montana Renewables

Brownfield cleanup grant GFDA approved to support Baatz Permanent Supportive Housing development in downtown Great Falls: $583,925

Number of manufacturers in Cascade County: 233

Number of manufacturers in surrounding rural Golden Triangle counties: 211

Total new companies added to our CRM during quarter: 194

Companies we actively engaged with during quarter: 517

Target activity this quarter (companies and developers we have targeted to try to attract into Great Falls trade area): 87

New targets we identified during quarter: 18

New project leads generated this quarter (companies and developers with planned investments that are considering Great Falls trade area): 77

Existing project leads we worked on during quarter: 24

New projects generated this quarter (investments in Great Falls trade area planned by companies and developers): 25

Existing projects we worked on during quarter: 48

Food, ag, and bio processing companies we worked with during quarter: 66

Business Pitch events we hosted across region during quarter: 2

Entrepreneurs, future entrepreneurs, and businesses in Great Falls trade area advised by GFDA during quarter: 125

Of these, number of new advising clients: 72

New capital secured by small business advising clients during quarter: $3,076,175

Entrepreneur and business training sessions offered during quarter: 10

Number of training participants: 116

Businesses active with our Procurement Technical Assistance Center during quarter: 171

Amount of government contracts won by clients during quarter: $43,200,807

GFDA gap and bridge loans approved during quarter: $7,200,000

Additional private investment to be leveraged by GFDA loans: $16,520,000

GFDA gap and bridge loans closed during quarter: $1,788,997

Additional private investment leveraged by GFDA loans: $1,016,263

SBA 504 loans approved by High Plains Financial: $142,000

Additional private investment to be leveraged: $327,870

New loan capital secured by GFDA during quarter: $2,802,275

Current SBA 504 fixed 25-year effective loan interest rate with 10% down: 6.329%

Current 10-year equipment effective fixed rate: 6.768%

Free Brownfield assessments completed during quarter: 2

Free Brownfield assessments in progress: 2

Nonresident tourist spending in Montana in 2021: $4.48 billion

Nonresident tourist spending in Cascade County in 2021: $256 million

Number of Montana businesses that will no longer have to pay equipment tax after legislature raised exemption from $300,000 to $1 million: 5,000

Montana top income tax rate change approved by legislature: lowered from 6.75% to 5.9%

Montana ranking for Overall State Tax Burden before this change: 8th lowest

Number of Montana economic development organizations and CDFI’s that have earned GuideStar Candid’s Platinum Seal of Transparency: 1 - GFDA!

Economic development organizations that have earned international accreditation: 73

Number in Montana: 2 – GFDA and Big Sky Economic Development

Percentage of cyberattacks aimed at small businesses: 43%

Corporate executives ranking availability of skilled labor as important or very important as a site selection factor: 86%

Ranking availability of energy as important or very important: 82%

Quality of life: 87%

Available land: 78%

Raw materials availability: 61%

Shovel ready sites: 56%

Number of Russians arrested for protesting against the Ukraine invasion: 20,000+

Russians who have fled their country since start of war: 500,000+

Increase in number of people globally suffering an acute shortage of food in 2022: 62 million

New world record for farthest flight by a paper airplane: 88.318 meters

First recorded sighting of Loch Ness monster: 565 AD

For info contact Jolene Schalper at JSchalper@GrowGreatFalls.org or 1-406-750-4481

PDF of GFDA 2023Q1 Index

Our Mission

Grow diverse economic opportunities that enhance quality of life.

Great Falls Region Community Vision

The Great Falls Region will be a proud, positive, and vibrant community, which welcomes new people, new investments, and innovative opportunities while celebrating its authentic and diverse Montana culture. Our community will be a safe and inclusive place to raise families and will offer opportunities for individual growth and quality of life, which retains and grows our population.

GFDA Organizational Vision

Great Falls Development Authority will be a change agent, catalyst, and facilitator in the Great Falls region, fostering collaboration and partnerships to support diverse economic opportunities, innovation, and growth. Our economic development organization will be a high performing leader in attracting new investment and talent. Our work providing access to capital, consulting, training and resources for entrepreneurs, businesses, developers, and nonprofits will transform Great Falls and the surrounding 13-county trade area into a thriving regional economy that enhances the standard of living for our people.

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.

Great Falls Development Authority | GrowGreatFallsMontana.org

See what's happening on our social sites: