• Tue. Jun 18th, 2024

Northland Small Business Development Center Powers Ely’s Economic Growth: Report Reveals Successful Impact on Iron Range Communities

BySamantha Johnson

Mar 28, 2024
Ely economy vibrantly reflected in data

In 2023, Ely experienced significant business growth, which was highlighted by the Northland Small Business Development Center (SBDC) in a report presented to the Ely Economic Development Authority on Jan. 30. This information prompted Ely City Council member Adam Bisbee to request a report on the impact of Northland’s services on Iron Range communities. The data revealed that Ely businesses raised more capital, had more business start-ups, and created and retained more jobs than other communities on the Iron Range.

Ely had the highest number of clients receiving Northland services and the highest number of consulting hours provided by Northland. The Timberjay noted a correlation between the number of jobs created or retained and the number of consulting hours and clients served, indicating that utilizing Northland’s business services promotes local small business growth.

The Northland SBDC is a part 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 through federal, state, and local governments, with the Ely Economic Development Authority contributing $4,000 annually. EEDA President Paul Kess expressed satisfaction with the return on investment in Northland’s services during a discussion of the data.

By Samantha Johnson

As a dedicated content writer at newsanguinely.com, I weave words into compelling stories that captivate and inform our readers. With a passion for storytelling and a keen eye for detail, I craft engaging articles that shed light on the latest news and trends. When I'm not typing away at my keyboard, you can find me exploring new ideas, researching diverse topics, and striving to deliver content that resonates with our audience. Join me on this journey as we uncover the stories that matter most.

Leave a Reply