• Sat. May 18th, 2024

Boosting Ely’s Economy: The Impact of Northland’s Small Business Development Center Services

BySamantha Jones

Mar 28, 2024
Data shows the thriving economy of Ely

In 2023, Ely was recognized as a key player in business development, according to a report by the Northland Small Business Development Center (SBDC). This information was presented to the Ely Economic Development Authority on Jan. 30 during a meeting with city council member Adam Bisbee, who requested a detailed report on the impact of Northland’s services on Iron Range communities. The SBDC recently delivered this report, highlighting the vibrancy of the Ely economy.

According to data from the report, Ely businesses raised $1.853 million in capital and had three new business start-ups, all while creating and retaining 61 jobs. This surpassed ten other communities on the Iron Range in job creation and retention. The Timberjay observed a connection between job growth and the number of hours spent consulting with Northland and the number of 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. Funded by federal, state, and local governments, including an annual $4,000 contribution from the Ely Economic Development Authority, the program provides valuable resources for entrepreneurs looking to grow their businesses and create jobs in their communities.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

Leave a Reply