• Fri. May 24th, 2024

Ely Shines as Business Hub with Help from Northland Small Business Development Center

BySamantha Nguyen

Mar 28, 2024
Data illustrates the dynamic economy of Ely

In 2023, Ely was a major player in business development, according to recent data from the Northland Small Business Development Center (SBDC). The Ely Economic Development Authority was informed of this during a presentation by the Northland SBDC on Jan. 30. As a result, 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, which revealed 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 is a program offered by the U.S. Small Business Administration and 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 the investment in Northland’s services was worthwhile for Ely. He highlighted that the data presented by Northland showed the vibrancy of the Ely economy and the positive impact of the SBDC’s support on local businesses.

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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