Also on Monday, July 12, two members of the committee were reelected to leadership positions. 6:49 pm, Jul. 12, 2021 ×
Grand Forks City Hall, 255 N. 4th St. Sam Easter / Grand Forks Herald
Members of the Grand Forks Growth Fund Committee reelected two members to committee leadership positions, then made additional adjustments to a business loan program that enables the city’s economic development wing to take an ownership stake in startup companies.
Committee members on Monday, July 12, reelected Bret Weber, a City Council member, and Jonathan Holth, a local businessman, to serve as chairman and vice-chairman, respectively, of the Growth Fund. After that, the committee worked out details on how the Jobs Development Authority can convert a startup loan for tech companies into an equity stake, if the company proves successful. The committee then entered into such an agreement with a drone company named First-i.
By Doug Barrett
Jun 10, 2021 | 7:58 AM
The Grand Forks Region Economic Development Corporation honored one of the founders of JLG Architects with the 2021 Klaus Thiessen Impact Award. The award was presented to the family of Lonnie Laffen. Laffen passed away last year.
In presenting the award EDC Board Chair Jonathan Holth said “Lonnie loved Grand Forks and that came out in everything he did.”
Laffen died in December. In addition to serving as JLG president for 31 years he was elected to the North Dakota Senate where he served eight years.
The award is each year at the EDC’s annual meeting.
Grand Forks Growth Fund considers loan program for start-up tech companies
The program, referred to as the Accelerate Loan Program, is based on the state’s Innovation Technology Loan Fund, which acts as a way to provide capital to companies that diversify the state’s economy beyond oil and agriculture. 7:06 pm, Apr. 19, 2021 ×
Grand Forks City Hall, 255 N. 4th St. Sam Easter / Grand Forks Herald
The Grand Forks Growth Fund on Monday, April 19, took steps toward creating a new loan program, one that targets technology start-up companies.
The program, referred to as the Accelerate Loan Program, is based on the state’s Innovation Technology Loan Fund, which acts as a way to provide capital to companies that diversify the state’s economy beyond oil and agriculture. Loans potentially granted through the Accelerate program come with a higher level of risk than loans generated through other economic development programs run by the city or Jobs Developmen
Simon Foy
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