• Mon. Jun 24th, 2024

Ely Small Businesses Thrive thanks to Northland SBDC Services – Outperforming Ten Other Communities on the Iron Range

BySamantha Jones

Mar 28, 2024
Data illustrates the dynamic economy of Ely

Ely Small Businesses Thrive Thanks to Northland SBDC Services

According to recent data from the Northland Small Business Development Center (SBDC), Ely was 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 was worthwhile for Ely. According to Kess

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.

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