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1) Our Loan Committee approved a $180,000 backstop loan for a local business which enabled a local bank to close on a loan so the business could purchase a property next week. Our backstop would kick-in if the SBA doesn't approve the loan. Kudo's to our lending team for making this happen in one business day. Creative financing to make things happen that otherwise would not!
2) Congratulations to Myra Blonde of Blonde Farms of Montana LLC on successfully submitting a Value Added Producer Grant. If awarded, this $250,000 grant will assist in her processing and marketing costs associated with starting her women-owned direct-to-consumer pork business in Ledger.
3) It’s time for May Hot Jobs! If your company is hiring for a high-level position, high-salary position, and/or out-of-the-box/unique/creative position, send a one-sentence description of the job, 3-5 of your company's top employee benefits, salary (if listed), and a link to apply for your job to Tyler Menzales at TMenzales@GrowGreatFalls.org or call 1(406) 217-7862 to be potentially included in our Hot Jobs in Great Falls blog post. To learn more about Hot Jobs and other Talent Attraction Resources, visit the Employer Talent Attraction Resource page on our website!
4) The Lewis & Clark Interpretive Center in Great Falls won the Tourism Destination of the Year from the Governor's Office of Tourism; see KRTV. The Little Shell Tribe celebrated the opening of its new food distribution center; see Great Falls Tribune. A new batting cage business, The Cage Batting Club, is opening in Black Eagle; see TheElectric's Business Bites.
5) Nicki engaged with more than 70 employers at the Hiring Fair & Career Exploration event in Great Falls to share our free talent attraction resources and general information about GFDA. Employers showed keen interest in our hot jobs-e-blast, which highlights high-skill, high-salary, or unique job opportunities. For further information on our talent attraction toolkit or to submit a hot job, please reach out to Nicki at Nicki@GrowGreatFalls.org or call 1-406-750-2099.
6) Congratulations to Highmark Properties LLC on their successful Rural Energy for America Program application. This Rural Development investment will be used to install a 74.205 kilowatt (kW) solar photovoltaic (PV) system at the Twin Peaks Assisted Living Facility in Choteau. Owned by Highmark Properties of Choteau, this project is expected to save $5,607 in annual energy costs and replace 82,427 kilowatts (kW) in energy use, enough electricity to power seven homes. If you are interested in applying for or exploring your eligibility for a REAP grant, please reach out to Anna at Anna@GrowGreatFalls.org or 1-406-590-1301.
7) We published our GFDA Quarter Index 2024Q1.
8) In case you haven't had time to read the entire 2024 Great Falls Housing Market Demand Assessment, here is a two page Summary. We're eager to help get more homes constructed. Contact Jake Clark at Jake@GrowGreatFalls.org or 1-406-403-4937.
9) 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. Register here. 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.
10) The Downtown Development Partnership voted to support the TIF request for the Elmore Roberts apartments redevelopment and send it to the Great Falls City Commission for approval. The Elmore Roberts apartments are 60-units of affordable housing in downtown Great Falls. The project will be led by the Community Preservation Partners in partnership with NeighborWorks Great Falls. Read more about the project in The Electric.
11) We have scheduled our first Angel Investor Networking Event for Wednesday, May 29. We're looking to connect potential investors with entrepreneurs and developers who need cash investment. Keep an eye out for registration information soon! For more information, including how to prepare for the event, please contact Tyler Menzales at TMenzales@GrowGreatFalls.org or call 1(406) 217-7862.
12) Congratulations to Ferrin's Furniture for marking 125 years in business! Read more about the rich history of Ferrin's Furniture at The Electric, and don't forget to visit their store in downtown Great Falls to extend your congratulations in person.
13) Boost Your Business Profits - No-Cost Strategies. Running a small business can be challenging, but with the right strategies, you can improve your bottom line without breaking the bank. Here are some no-cost ways to enhance your business profits:
- Streamline Operations: Identify areas where you can optimize workflows, reduce waste, and eliminate redundancies. This saves time, money, and energy.
- Focus on Customer Retention: Keep your existing customers happy by improving customer service, maintaining open communication, and offering loyalty incentives. Repeat business and referrals are invaluable.
- Leverage Digital Marketing: Harness the power of social media to reach a wider audience at minimal cost. Create engaging content that highlights your products and services, targeting your intended market.
- Implement Cross-Selling and Upselling: Train your sales team to identify opportunities for cross-selling and upselling complementary products or services, increasing the average transaction value without additional marketing costs.
- Negotiate with Suppliers: Build strong relationships with suppliers to negotiate favorable terms, bulk discounts, or extended payment plans. Every dollar saved on purchasing directly impacts your bottom line.
- Embrace Employee Engagement: Foster a positive work environment by recognizing and rewarding outstanding performance. Engaged employees are more productive and committed, leading to improved customer service and efficiency.
- Optimize Inventory Management: Regularly review inventory levels to ensure you have the right number of products on hand, reducing tied-up working capital, storage costs, and potential waste.
- Refine Pricing Strategy: Evaluate your pricing strategy based on market trends, competitive analysis, and your target market's perception of value.
- Invest in Employee Development: Train employees to enhance their skills and knowledge, leading to improved customer service, reduced errors, and increased efficiency.
Remember, consistently applying these tactics and adapting them to your business's unique circumstances can lead to sustainable improvements in profitability over time and unlocks your business's unlimited potential for growth and success. Want to learn more? 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.
14) Mark your calendars for Wednesday, May 8th for the 2024 Assistance for Business Clinic. This full day clinic will be held at the Great Falls College and will provide valuable resources to both new and established businesses, as well as professionals such as accountants, bookkeepers, human resource experts, and attorneys. Register for the clinic here. Sponsored by the Great Falls Job Service, Great Falls Development Alliance and the Great Falls Area Chamber of Commerce.
15) Save the date for GFDA’s Annual Meeting: Tuesday, June 18th, 8:00-10:00 AM at the Newberry. Expect engaging presentations from our team, celebrate this year’s Ally Award winners, and network with fellow stakeholders and community leaders. Mark your calendars now.
16) We Are Growing Our Awesome Staff Team. Download a description of openings for Lending Solutions Specialist and Communications & Marketing Specialist.
17) We are pleased to announce that our application to the M.J. Murdock Charitable Trust for $192,000 in support of growing our lending team has been approved! The funds are distributed across three years, funding 100% of salary and fringe in year one, 67% in year two, and 33% in year three. From our Economic Development Strategy, the goal of this new loan officer position is to lend additional capacity to our lending team to allow us to deploy $50 million in loans by the end of FY28.
18) Jolene and I participated in the Montana Economic Developers Association spring conference in Red Lodge. I spoke on the Access to Financing panel.
19) Pleased to announce that I've been elected to the board of the National Association of Development Organizations (NADO).
20) Thank you to all GFDA investors and public partners for their support and participation in our work. Learn more about them by viewing this short video. Their commitment plays a crucial role in our collective efforts to foster economic growth and community development. Each contribution helps us to implement strategies that drive innovation and enhance the quality of life in our community. To learn about our economic development strategy and how you can be a part of the team that is driving progress in our region, reach out to Investment Director Jenn Gallmeier at 1-406-781-9499 or Jenn@GrowGreatFalls.org.
I'm off to Missouri this morning to do an accreditation visit for the International Economic Development Council -- great opportunity to exchange ideas with another high-performing economic economic development organization!
Have a great week!
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.
Forward the GFDA Top 10 to friends and colleagues. You can join our distribution list HERE or text GFDA to 22828.
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"Do the right thing. It will gratify some people and astonish the rest."
Mark Twain
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