Data illustrates the dynamic economy of Ely

In 2023, Ely was a major player in business development, according to recent data from the Northland Small Business Development Center (SBDC). The Ely Economic Development Authority (EEDA) was informed of this during a presentation by the Northland SBDC on January 30. As a result, Ely City Council member Adam Bisbee requested a report on the impact of Northland’s services on Iron Range communities. The SBDC provided the requested report, revealing that 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 Timberjay observed a 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. 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 by federal, state, and local governments, with the Ely Economic Development Authority contributing $4,000 annually to support Northland SBDC services in Range communities.

According to Paul Kess, President of the EEDA, he believes that investing in Northland’s services has been worthwhile for Ely based on the data presented by the SBDC which highlighted

By Sophia Gonzalez

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