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Helping Small Businesses Succeed NADO ANNUAL TRAINING CONFERENCE SAN ANTONIO, TEXAS OCTOBER 18, 2016 1 Jay Trusty Executive Director Southwest Regional Development Commission

Helping Small Businesses Succeed

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Page 1: Helping Small Businesses Succeed

1

Helping Small Businesses

SucceedNADO ANNUAL TRAINING CONFERENCE

SAN ANTONIO, TEXASOCTOBER 18, 2016

Jay TrustyExecutive DirectorSouthwest Regional Development Commission

Page 2: Helping Small Businesses Succeed

2The Area

1973 Population 141,532

2014 Population 117,764

9 Counties

80 Cities

163 Townships

32 School Districts

Page 3: Helping Small Businesses Succeed

3Employment Labor Force = 64,751

Employment = 62,289

Unemployed = 2,462

Unemployment Rate = 3.8%

Job Vacancies = 1,503

Median Hourly Wage = $14.79

Page 4: Helping Small Businesses Succeed

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

Page 5: Helping Small Businesses Succeed

5New Immigrant Entrepreneurs

Page 6: Helping Small Businesses Succeed

6PACE (Property Assessed Clean Energy)

Page 7: Helping Small Businesses Succeed

7What is PACE?

Loan Program

Loan is against the property, not the owner/business

Low administrationAdministrator

Page 8: Helping Small Businesses Succeed

8Why PACE?

Focus on renewable energy

Energy conservation/efficiency an underserved market

Expand services to businesses

Page 9: Helping Small Businesses Succeed

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)

Page 10: Helping Small Businesses Succeed

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

Page 11: Helping Small Businesses Succeed

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

Page 12: Helping Small Businesses Succeed

12Blue Line Truckstop

Page 13: Helping Small Businesses Succeed

13B & D Market

Page 14: Helping Small Businesses Succeed

14Questions, Answers, Observations

Page 15: Helping Small Businesses Succeed

15Contact Information

Jay TrustyExecutive [email protected]

Robin WeisEconomic Development [email protected]

http://rmeb.org/pace.htm