Ely Booms thanks to Small Business Development Center’s Impactful Services

Data illustrates the thriving Ely economy

Ely, a small town located in Minnesota’s Iron Range, has seen significant growth in business development thanks to the Northland Small Business Development Center (SBDC). According to recent data from the SBDC, Ely was a major player in business development in 2023. This information was presented to the Ely Economic Development Authority (EDA) on January 30th by the SBDC.

The presentation prompted Ely City Council member Adam Bisbee to request a report on the impact of Northland’s services on Iron Range communities. The data provided by the SBDC showed that the Ely economy was thriving compared to other communities on the Iron Range. Ely businesses raised more capital, had more business start-ups, and created and retained more jobs than ten other communities. In addition, Ely had the highest number of clients receiving Northland services and the most consulting hours provided.

The Timberjay highlighted a connection between the number of jobs created or retained and the amount of Northland consulting hours and clients served. This correlation suggests that utilizing Northland’s business services can lead to local small business growth. The Northland SBDC is a part of the U.S. Small Business Administration and offers free consulting and business training to small businesses, start-ups, and individuals interested in starting their own business. The program is funded by federal, state, and local governments, with the EEDA contributing $4,000 annually to serve Range communities.

EEDA President Paul Kess expressed that he believes they are getting their money’s worth from the Northland SBDC based on the data provided. This brief discussion of the Northland data showcased

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