• Wed. May 29th, 2024

Boosting the Iron Range Economy: The Impact of Northland Small Business Development Center Services on Ely’s Business Development

BySamantha Nguyen

Mar 28, 2024
Data shows the thriving economy of Ely

In 2023, Ely was recognized as a key player in business development, thanks to the efforts of the Northland Small Business Development Center (SBDC). This information was revealed after a presentation by the Northland SBDC to the Ely Economic Development Authority on Jan. 30. Following this presentation, Ely City Council member Adam Bisbee requested a report detailing the impact of Northland’s services on Iron Range communities. The SBDC recently delivered this report, highlighting the strength of the Ely economy. The data showed that Ely businesses raised $1.853 million in capital, had three new business start-ups, and created and retained 61 jobs, outpacing ten other communities on the Iron Range.

The Timberjay noted a correlation between the number of jobs created or retained and the amount of Northland consulting hours and clients served. This suggests that utilizing Northland’s business services can lead to growth in local small businesses. The Northland SBDC is a division of the U.S. Small Business Administration that offers free consulting and business training to small businesses, start-ups, and aspiring entrepreneurs. The program is funded by federal, state, and local governments, with the Ely Economic Development Authority contributing $4,000 annually to the Northland SBDC.

EEDA President Paul Kess expressed satisfaction with the investment, stating “I think we’re getting our money’s worth.” The Northland SBDC plays an essential role in promoting economic development and small business growth on the Iron Range.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

Leave a Reply