Ely economy vibrantly reflected in data

Unlocking Ely’s Economic Potential: The Impact of Northland SBDC Services

In 2023, Ely experienced significant business development thanks to the Northland Small Business Development Center (SBDC), which recently provided data showcasing this growth. This information was presented to the Ely Economic Development Authority on Jan. 30, prompting Ely City Council member Adam Bisbee to request a report on the impact of Northland’s services on Iron Range communities.

The report revealed that Ely businesses raised more capital, had more business start-ups, and created and retained more jobs than other communities on the Iron Range. The Timberjay pointed out a correlation between the number of jobs created or retained and the number of consulting hours and clients served, indicating that utilizing Northland’s business services promotes 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 aspiring entrepreneurs. The program is funded through federal, state, and local governments, with the Ely Economic Development Authority contributing $4,000 annually. EEDA President Paul Kess expressed satisfaction with the return on investment in Northland’s services during a discussion of the data.

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