Ely’s Business Boost: How the Northland Small Business Development Center Fueled Success and Creation of Jobs

Data illustrates the dynamic economy of Ely

The Northland Small Business Development Center (SBDC) has revealed that Ely was a significant player in business development in 2023. According to recent data, 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 success of Ely’s small businesses can be attributed to the support provided by the SBDC. The SBDC offers free consulting and business training to small businesses, start-ups, and aspiring entrepreneurs. The program 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 expressed his belief that the investment in Northland’s services was worthwhile for Ely during a discussion of the Northland data. He noted that the vibrancy of the Ely economy can be attributed to the positive impact of the SBDC’s support on local businesses.

According to Bisbee, who requested a report on the impact of Northland’s services on Iron Range communities after being informed of Ely’s success during a presentation by the Northland SBDC on Jan. 30, there is a clear 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.

Sophia Reynolds

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