helping small businesses succeed
TRANSCRIPT
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 [email protected]
Robin WeisEconomic Development [email protected]
http://rmeb.org/pace.htm