Helping Small Businesses Succeed

1

Helping Small Businesses

SucceedNADO ANNUAL TRAINING CONFERENCE

SAN ANTONIO, TEXASOCTOBER 18, 2016

Jay TrustyExecutive DirectorSouthwest Regional Development Commission

2The Area

1973 Population 141,532

2014 Population 117,764

9 Counties

80 Cities

163 Townships

32 School Districts

3Employment Labor Force = 64,751

Employment = 62,289

Unemployed = 2,462

Unemployment Rate = 3.8%

Job Vacancies = 1,503

Median Hourly Wage = $14.79

4Types of Businesses

Manufacturing = 18.8% of total jobs

56.8% of businesses 1-4 employees

32.2% of businesses 5-19 employees

Only 9 businesses in the region had more than 500 employees

5New Immigrant Entrepreneurs

6PACE (Property Assessed Clean Energy)

7What is PACE?

Loan Program

Loan is against the property, not the owner/business

Low administrationAdministrator

8Why PACE?

Focus on renewable energy

Energy conservation/efficiency an underserved market

Expand services to businesses

9Who Financed the Pilot?

Minnesota Department of Commerce, (ARRA funding)

REED Fund (Rural Electric Economic Development)

USDA/RD REDLG (Rural Economic Development Loan and Grant Program)

10How Does PACE Work?

Energy Audit

Energy savings must be greater than the amount loaned

Must be current on taxes

Must pass historic building review

Davis/Bacon applies

Special Assessment is placed on property

11Projects 10 Projects completed

• Cottonwood County- 1• Under 4 Story Housing Complex

• Nobles County- 4• Gas Stations (3), Multi-Purpose

Building• Blue Earth County- 1

• Gift Shop• Renville County- 1

• Grocery Store• Lincoln County- 1

• Martial Arts Building• Jackson County- 1

• Bar/Grill• Redwood County- 1

• Bar/Grill

12Blue Line Truckstop

13B & D Market

14Questions, Answers, Observations

15Contact Information

Jay TrustyExecutive Directorexecdir@swrdc.org

Robin WeisEconomic Development Directorrobin@swrdc.org

http://rmeb.org/pace.htm