In 2023, Ely experienced significant business development, as highlighted by data from the Northland Small Business Development Center (SBDC). 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 showed 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 data also revealed that Ely had the highest number of clients receiving Northland services and the highest number of consulting hours provided by Northland. 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.
