• Sun. May 26th, 2024

Ely Tops Iron Range in Small Business Growth: How Northland SBDC Services Made a Difference

BySamantha Jones

Mar 28, 2024
Data illustrates the dynamic economy of Ely

According to recent data from the Northland Small Business Development Center (SBDC), Ely has been a significant player in business development in 2023. The Ely Economic Development Authority was informed of this during a presentation by the Northland SBDC on Jan. 30. In response, Ely City Council member Adam Bisbee requested a report on the impact of Northland’s services on Iron Range communities. The SBDC provided the requested report, revealing that Ely businesses raised $1.853 million in capital, had three new business start-ups, and created and retained 61 jobs, outperforming ten other communities on the Iron Range.

The Timberjay observed a connection between the number of jobs created or retained and the number of Northland consulting hours and clients served. This suggests that utilizing Northland’s business services can lead to local small business growth. The Northland SBDC, a part of the U.S. Small Business Administration, 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 support Northland SBDC services in Range communities.

EEDA President Paul Kess commented during the discussion of the Northland data, expressing his belief that investing in Northland’s services has been worthwhile for Ely. He highlighted how the data presented by Northland showcases the vibrancy of the Ely economy and how Northland’s support has positively impacted local businesses on Iron Range.

Overall, it is clear that utilizing Northland’s business services can have a significant positive impact on local small businesses on Iron Range. With its free consulting and training offerings funded through government support from federal to state level as well as locally from authorities like EEDA President Paul Kess who believes it’s worthwhile investment for their community we can expect more small businesses to benefit from this program in future years to come

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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