To attract new manufacturing firms to the region, GPS 45:93, a 5-County regional economic development organization, works with prospective businesses who are often looking for buildings or industrial sites, as well as seeking low interest loans and tax incentives, such as tax increment financing, etc. More recently, many firms are also seeking equity investments.
GPS is currently developing an opportunity to fill this equity need by contacting individuals in the region who might value an investment such as this. If you have an interest in supporting local or new businesses by making an equity investment in them, please contact Tom Willett, GPS Executive Director at 763-691-8585 or firstname.lastname@example.org. Investors will pool their funds to vet and then invest in prospective companies, looking to locate in the five county area. This is an opportunity for local investors to invest in their communities with the potential for a high return on their monies.
GPS 45:93, is a member of the Community Venture Network (CVN), an eight state, Midwest organization that holds three meetings a year where growing firms make presentations on their products, building and funding needs, projected employment, etc.
GPS is currently working with 11 prospects that were identified at these meetings. These entrepreneurs are looking for buildings or industrial sites, as well as seeking low interest loans, tax incentives, such as tax increment financing, etc., and more recently, many firms are also seeking equity investments.
GPS 54:93 is also working to help existing businesses grow and create more jobs by raising funds for an economic gardening program. Economic Gardening is based on a similar successful program initiated by the Edward Lowe Foundation and would provide valuable market research and business assistance to five local firms, each year, to help them better grow their business and create more living wage jobs.
The organization is also working on an education/skilled workforce initiative to assist area employers in attracting and retaining a skilled labor force.
GPS 45:93 is a 5-County Economic Development Partnership working with the Economic Development Authorities and representatives of Chisago, Isanti, Kanabec, Pine, and Mille Lacs counties. Its mission is “to better position the region to attract high-wage jobs” and “to collaborate on business retention and expansion.”
For more information on GPS 45:93 go to www.gps4593.com “Your Point of Opportunity” or contact Tom Willett, GPS Executive Director at 763.691.8585 or email@example.com.