Ely Takes the Lead in Business Development: Northland Small Business Development Center Reveals 2023 Data

Data illustrates the thriving Ely economy

The Northland Small Business Development Center (SBDC) has recently released data that highlights Ely as a major player in business development in 2023. According to the data, Ely businesses raised more capital, had more business start-ups, and created and retained more jobs than ten other communities on the Iron Range. Additionally, Ely had the highest number of clients receiving Northland services and the most consulting hours provided.

The positive impact of Northland’s services on Ely was highlighted during a presentation made by the SBDC to the Ely Economic Development Authority (EDA) on Jan. 30. This 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.

EEDA President Paul Kess expressed his belief that they are getting their money’s worth from the Northland SBDC based on the data provided. The correlation between the number of jobs created or retained and the amount of Northland consulting hours and clients served 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.

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