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1) The Montana Air National Guard's 120th Airlift Wing at Great Falls International Airport was selected to be the first to receive the new C-130J Super Hercules cargo planes; see KRTV and KFBB.
2) I represented the Montana Defense Alliance and GFDA at the annual Defense Communities Summit in DC. Met with DOD and USAF leaders to discuss progress on supporting MAFB, MANG and other military missions in Montana, preparations for Sentinel, and energy development. Discussed same with Sen. Daines and Sen. Tester's staff.
3) Benefis Health System was named one of the top 150th best pleaces in healthcare in the U.S. to work! See Great Falls Tribune.
4) We received and are working on responses to two requests for information for primary sector business attraction leads from our partners at the Montana Department of Commerce.
5) GFDA's Loan Committee approved 3 loans to 3 different businesses this week. Each of the businesses had different financing needs, from construction financing to working capital. These loans, along with 2 additional loans were submitted to the State for a participation request using their low-interest SSBCI 2.0 funding. These loans total $1,182,000 in loans and will leverage an additional $2,317,380 of capital. Does your project have a financing gap? Please reach out to Jill Kohles at 1-406-590-1056 or JKohles@GrowGreatFalls.org to discuss your options.
6) The former Wagon Wheel in Choteau has been purchased and is being remodeled to open soon as the Wagon Wheel Bar & Grill; see KRTV. The Rise N Dine restaurant has opened in the Times Square Building in Downtown Great Falls; see KRTV. Wendy's and Coffee Republic are opening second locations in Great Falls; see TheElectric's Business Bites.
7) This is your final call to register for The Fire Within 2024! Join us as we celebrate 31 of the region’s finest female entrepreneurs this Thursday, April 18th from 5:30-7:30 PM at the Haute Hive in Downtown Great Falls.
8) Met with companies and resource providers in Vancouver at the Select USA British Columbia event. This event provided valuable information to businesses in Canada who want to expand to the US. Topics covered included tax implications, immigration status requirements, company formation, and building a team of professionals for your soft landing. If you’re interested in expanding across the border in either direction, give Jolene a call to discuss, 1-406-750-4481 or JSchalper@GrowGreatFalls.org.
9) There is still time to register for the 2024 Great Falls Housing Summit! We will be releasing the study, hearing about recent housing developments, and hearing from companies driving the demand on April 17 at Great Falls College. The new housing market demand assessment was commissioned in partnership with the Home Builders Association of Great Falls, NeighborWorks Great Falls, and the Great Falls Association of Realtors and completed by the Concord Group.
10) Malmstrom Industry Day at Great Falls College in Heritage Hall! Come join Great Falls APEX on Wednesday, April 24th from 10:00 AM -1:00 PM to engage with the 341st Contract Squadron Construction flight from Malmstrom AFB. This is an in-person event only! Discover valuable insights on conducting business with the U.S. Air Force followed by an interactive Question and Answer Session. Bring your capability statement to share with contracting officers and potential partners. To Register, CLICK HERE! For assistance with creating a capability statement or updating an existing one, contact Lillian Sunwall at1-406-750-1253 or LSunwall@GrowGreatFalls.org or Shannon Clancy at 1-406-590-1184 or SClancy@GrowGreatFalls.org
11) Join employers across diverse industries at a hiring fair and career exploration on April 24 from 11 AM to 6 PM at the Mansfield Convention Center. Employer booths available for $25 Great Falls Area Chamber Members and $50 Non-Chamber Members. Admission is free for attendees. Sign up for the event here.
12) Attention Great Falls employers and recruiters; GFDA is hosting a Talent Attraction & Livability Launch Reception on Wednesday, May 15th from 4:00-5:00 PM at the Arc Apartment Homes clubhouse. This event aims to introduce and discuss various tools that can support your workforce needs. Pick up your copies of the 2024 Livability magazine, learn about our many talent attraction resources available to employers, and visit with GFDA staff to answer questions. Recruiters, HR directors, and individuals responsible for hiring within organizations; this event can offer valuable insights and strategies to enhance your recruitment efforts. Contact Tracy Heggem at 1-406-788-1192 or Tracy@GrowGreatFalls.org for more information.
13) Have you been thinking about moving into a location in downtown Great Falls or expanding our business into Downtown? We have a handful of buildings for sale from small to large, or if you prefer to lease, we have that too! We have tools to help purchase buildings as well. If you've been interested in Downtown Great Falls, call Christian at 1-406-836-0136 or CLeinhauser@GrowGreatFalls.org
14) Are you planning for your Small Business Success? While many small business owners worry more about failure than success, the focus should be on proactive planning for growth and sustainability. Effective planning is the key to long-term growth and success for small and medium businesses.
The planning process should begin with an operational review to understand a business's internal strengths and weaknesses. This starts the groundwork for developing a business plan, which should then be revised on a regular basis to meet the company's objectives.
A crucial element of this planning is understanding the target market. Many businesses miss the mark by either marketing too broadly or failing to reach their entire potential customer base. Knowing your customers segments and the customer types is essential. Who are they? What are their needs? How can the business best serve them? What benefits do the products or services provide? What problems can the company solve for them? When and where do they typically make purchases?
Analyzing existing customer data is a great starting point. Businesses can also leverage low-cost market research techniques, such as:
- Conversations with current and prospective customers.
- Surveys to gather feedback and ideas.
- Monitoring trends in monthly sales activity.
- Researching the competition and industry landscape.
With a solid understanding of the target market, businesses can develop success stories to share with customers. These stories should highlight how the company's offerings have benefited others, solved problems, and differentiated the business from the competition. Arming sales teams with these narratives creates a powerful brand identity.
The goal of planning is to grow the business into a sustainable, long-term entity that increases in value year over year. To achieve this, management must stay focused on executing the plan and meeting established goals. When plans are implemented effectively, the business is positioned for success and headed in the right direction.
While failure is a reality that small businesses must deal with, the focus should remain on proactive planning for the future. By understanding their strengths, knowing their customers, and crafting compelling success stories, businesses can position themselves for long-term growth and profitability.
Want to learn more about planning and marketing? please reach out to Alan Gohary at AGohary@GrowGreatFalls.org or 1-406-750-0314. For a no-cost business consulting from GFDA Small Business Development Center, please click here to sign up.
15) We made progress on our Cross-Border Partnership with Economic Development Lethbridge this week by finalizing our Memorandum of Understanding which will be signed on our upcoming trip to Lethbridge next month. Once signed, this MOU will provide the framework for greater collaboration between our two economic development organizations to support businesses interested in relocating to our corridor or expanding into international trade. If you are a food business interested in expanding or relocating to our area, please reach out to Anna at Anna@GrowGreatFalls.org or 1-406-590-1301.
16) The 2024 class of Leadership Montana was in town and Jake got to share with the class about Economic Development as well as join their Community Conversation Roundtables.
17) Jolene earned her Entrepreneurship Development Professional (EDP) designation through the International Economic Development Council. Creating a robust and thriving entrepreneur ecosystem is critical for community building and this certification helps her with more tools and resources to help our regional entrepreneurial ecosystem thrive.
18) We Are Growing Our Awesome Staff Team. Download a description of openings for Loan Officer and Communications & Marketing Specialist.
19) The road to sustainable growth begins with strategic investments in economic development. We are grateful for our dedicated team of investors and public partners whose support enables us to advance our mission of bringing more high-wage jobs to our region. Learn more about them by viewing this short video. Recent investments include: Advance Division—City Motor Company; Leadership Division—Admiral Beverage/Pepsi of Great Falls; Pacesetter Division—First Bank of Montana. Their collaboration empowers us to implement impactful initiatives that drive positive change and build a brighter future for our community. If you’d like to learn about the work we are doing and how you can be a part of the change, contact Investment Director Jenn Gallmeier at 1-406-781-9499 or Jenn@GrowGreatFalls.org. Together, we are building a brighter and more sustainable future for generations to come.
Headed home to Great Falls tonight for what pro mises to be an exciting week helping clients and partners move projects forward.
Brett
Brett Doney
President & CEO
1-406-750-2119
BDoney@GrowGreatFalls.org
Connect with me on LinkedIn to network with the Great Falls Montana region.
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"No person can be a great leader unless he takes genuine joy in the successes of those under him."
W.A. Nance
Edition 628
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