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Grand Forks Growth Fund tables First-i LLC Accelerate Loan proposal

Grand Forks Growth Fund tables First-i LLC Accelerate Loan proposal
The Growth Fund had a general census in its June 21 meeting to move forward with the request from First-i LLC, a drone company that accesses local UAS/drone and data management resources, for a $250,000 Accelerate loan. The business received $850,000 from the state’s LIFT program previously.
Written By: Jacob Holley
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Grand Forks City Hall, 255 N. 4th St. Sam Easter / Grand Forks Herald
The Grand Forks Growth Fund Committee moved to table First-i LLC s Accelerate Loan proposal in its meeting Monday, June 28.
The discussion revolved mostly around a couple questions: The main one – Can the JDA own an equity position in a privately-owned entity? The answer to that question will likely come on June 19 – the next Growth Fund meeting where the item will appear. ....

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Grand Forks, lagging in executive jobs, looks to grow them at home

Grand Forks, lagging in executive jobs, looks to grow them at home
There are about 270 “management of companies and enterprises” jobs in Grand Forks and Polk counties. If the Grand Forks metro area matched the national average concentration for those positions, that figure would be nearly three times higher, at 875.
Written By:
Sam Easter |
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A water tower in Grand Forks smiles at passersby. (Grand Forks Herald)
Grand Forks is well behind national averages in executive-level jobs the kind of positions that lead businesses large and small.
For a community nestled in prairie country, that might sound about right.
But more surprising is how important that statistic could be for Grand Forks’ future. If a healthy economy is a forest, experts say, drawing those positions is something like planting seeds. Figuring out how to plant more of those seeds could be vital for the community. ....

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Grand Forks City Council shoots down plan to phase out 'classified' department heads

Grand Forks City Council shoots down plan to phase out ‘classified’ department heads
They voted against the proposal last week, but Grand Forks City Council members on Monday formally rejected Mayor Brandon Bochenski s proposal to eventually make the head of each city department a contracted employee.
8:33 pm, May 3, 2021
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Grand Forks City Hall, 255 N. 4th St. Sam Easter / Grand Forks Herald
A week’s time and a second vote produced no new results at Grand Forks City Hall.
City Council members on Monday voted 4-3 against Mayor Brandon Bochenski’s proposal to ultimately make the head of each city department a contracted employee, rather than one whose job is spelled out in city code. Voting against the plan were council members Katie Dachtler, Bret Weber, Jeannie Mock and Ken Vein. Voting in favor were council members Danny Weigel and Kyle Kvamme, plus City Council President Dana Sande. ....

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Grand Forks Growth Fund considers loan program for start-up tech companies

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
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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 ci ....

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