10 minute read
ECONOMIC DEVELOPMENT
So much of the economic development team’s work is centered on Greater Green Bay Economic Development Strategic Plan’s initiatives.
1. Community members engaged with the BRE program visit with leadership from County Materials Corporation in Green Bay to help recognize National Concrete Pipe Week.
2. Matthew Kee (right) visits with Dean Hendrickson, owner at Soda Sense, in the company’s new facility.
3. Josh Bernhardt does a virtual interview with a local TV station about the Paycheck Protection Program.
4. Josh Bernhardt talks with a local business representative, highlighting their work during the COVID-19 pandemic. This was shared through social media.
Initiatives 1, 2 & 3
Collaborated with NEWMA on the five-part Manufacturing Forward Series to assist the region’s manufacturers in understanding the implications of industry 4.0, productivity and automation; we will provide specific takeaways for implementation.
Initiative 2
This initiative focuses on the support of existing businesses in our community. The Chamber’s economic development team has taken an active role in the support of existing businesses through the business retention & expansion (BRE) led by Josh Bernhardt.
These efforts focus on the growth of existing firms as up to 80% of new job growth and investment in a community comes from alreadyestablished businesses. BRE looks to build relationships with existing businesses to connect them to resources for continued growth locally.
BRE BY THE NUMBERS
More than half of the business visits resulted in a referral to a solution provider partner organization
Main issues reported:
Access to skilled talent/ workforce and COVID-19- related questions and concerns
Connecting resources/results
Soda Sense is a new Green Bay area business that started by knocking on the door of the Startup Hub to find valuable resources to jumpstart their business. The economic development team leveraged connections through the BRE program and helped find Soda Sense a facility that fit their needs. Soda Sense now calls Greater Green Bay home, and is the newest local business providing an alternative for in-home soda making with their membership-based CO2 cartridge exchange program.
COVID-19 and BRE
COVID-19 presented challenges for business across various industries, and BRE was able to provide valuable insights and resources to businesses when they needed it most through things like: • Connecting business to disaster resources including the: • Economic Injury Disaster Loan • Paycheck Protection Program • Greater Green Bay Back to Business Grant • We’re All In Business Grant • PPE resources
Sharing the story
While COVID-19 prevented the in-person visit opportunities, the BRE program continued to share the #GreenBayMade story of local business through online methods with video interviews.
Initiative 5
We reworked initiative 5 with an overarching goal to tell the story of Greater Green Bay for talent and retention. This is more crucial than ever as we compete globally for talent and the business development and investment we need to make Greater Green Bay an economically viable community in the future. Placemaking Greater Green Bay will provide consistent messaging that resonates with several key audiences – including young professionals and entrepreneurs – and will focus on both attracting and retaining talent.
Initiative 6
The downtown task force took a study trip to Louisville where their focus was city collaboration, downtown economic development, residential and arts & culture. Picture is the meeting with Mayor Greg Fischer.
SMALL BUSINESS LOANS AVAILABLE THROUGH THE CARES ACT
EIDLs Economic Injury Disaster Loans $10B available
EIDLs are administered and approved by the U.S.. Small Business Administration (SBA).
LOANS
ABOUT PPP Paycheck Protection Program $349B available
In the PPP, loans are backed by the SBA through local lenders.
• Small businesses (<500 employees) • Sole-proprietors • Independent contractors • 501(c)6 organizations & more!
• Maximum Granted: $2M • Interest: 3.75% (2.75% for non-profits) • Duration: Up to 30 years • Deferment options available
Clients can receive $10,000 in an emergency grant cash advance that can be forgiven if certain criteria are met.
HOW Apply at www.sba.gov/disaster
WHEN
Available now!
ELIGIBILITY
FINANCING
KEEP IN MIND
APPLY
• Small businesses and non-profits (<500 employees) • Sole proprietors • Self-employed & freelance workers
• Maximum Granted: Lesser between 2.5X Payroll or $10M • Interest: 1% • Maturity of 2 years • Defer for 6-12 mo.
• No personal or collateral guarantee is required. • Forgiveness granted if funds are used on operating expenses within 8 weeks of receiving.
HOW Apply with an SBA - approved lending institution.
WHEN Work with your lender today to apply!
PRO TIPS
1. Both loans can be applied for (and granted!) if funds cover different expenses 2. For fastest approval, be prepared to specify your economic loss due to COVID-19 3. Be aware of fraudulent schemes and only discuss finances with a trusted professional
Visit us online at greatergbc.org
Example of a resource created to help businesses navigate some of the loan options as a result of COVID-19
Initiative 10
This initiative led to the creation of three working groups. • Board diversity working group • The why: There is a lack of diversity among many boards of directors in the community; this group is researching why that is, what educational opportunities exist and analyzing how boards in the area are structured and function. Their goal is ultimately to boost board diversity within area boards of directors. • Housing diversity working group • The why: Green Bay is short 2,000 housing units– rentals, ownership, stand-alone, condominiums and apartments. The working group’s purpose is to understand the services people offer/resources and to analyze the gaps; map out the housing ecosystems; identify stakeholders in the community and determine how to bring the private and public sectors together while also looking at housing with a “diversity lens.” • Small business working group • Collect and analyze current “D&I for business” landscape and identify gaps. • Identify key pieces (ideas, practices, processes) for small business and identify means/partners to fill in gaps. • Translate and create resources for small business. • Identify or create distribution and implementation channels.
Initiative 11
We hosted a transportation forum in September 2019; speakers included Craig Fuller CEO & founder of FreightWaves, John Larkin, operating partner of Clarendon Capital with a roundtable discussion with Mark Rourke, CEO, Schneider, & Paul Snider, president of KBX Logistics LLC, moderated by Craig Dickman, managing director of TitletownTech. They spoke on transportation & logistics in Greater Green Bay and the importance of innovation, the pool of qualified candidates in the area and how they are growing so much.
COVID–19 RESPONSE
We knew 40% of small businesses had, or were seeking, financial support.
The Greater Green Bay Chamber Back to Business Grant launched to help small- and mediumsize companies significantly impacted by COVID-19. We collected
$276,500
in grant funds from local business to help fund 23 small businesses’ needs. We launched the Greater Green Bay Small Business Hotline with several partner organizations to provide expert responses to small businesses’ questions related to accounting, finances, marketing and other topics in the COVID-19 environment.
Startup Hub/Urban Hub
Urban Hub co-working space
This past year, the Startup Hub began operating and managing the former T2 Accelerator as the Urban Hub. The Urban Hub is a coworking space for entrepreneurs and remote workers located in the heart of the Rail Yard Innovation District. The Urban Hub is a direct outgrowth of fulfilling entrepreneurial needs and furthering downtown innovation and development as defined in the Greater Green Bay Economic Development Strategic Plan.
The Urban Hub also introduced a new resident entrepreneurs program featuring entrepreneurs focused on using the coworking space as “home base” for their companies. This allows for organic collaboration that drives results and ideas for both startups and corporate members’ employees who need offsite space for idea-generation and retreats.
Startup Hub occupancy
For the first time ever, the Startup Hub not only reached 100% occupancy but exceeded it! How is that possible?! Through our partnership with NWTC, we rented some previously excluded offices, putting us at 107% occupancy in office space and 98% in manufacturing.
Startup Hub updates
Through partnerships with strong community businesses, we performed a complete update on the Startup Hub’s major spaces including updating the former classroom space to become the Associated Bank room. Updates included state-of-the-art presentation systems, surround sound and updated furniture. The now-named Microsoft room features a whiteboard wall, new presentation capabilities and ergonomic chairs. BE’s Vending provides onsite vending through a micromart.
Community-Driven Solutions
When it comes to significant community investments like roadways, trails, public buildings, and healthcare facilities, it’s important to partner with a firm that has a first-hand understanding of the community, and can leverage local familiarity to develop innovative solutions that bring lasting value.
ISGInc.com | Architecture + Engineering + Environmental + Planning
960 Hansen Road, Green Bay, WI 54304 (920) 884-1166
We make it easy to bank remotely
At Investors Community Bank, we have several tools that allow you to visit the bank 24/7 via your desktop or smartphone, without ever having to leave your home or office. No matter where you are, you can use your computer or smartphone to bank remotely!
Online Banking • View account balances and transactions • Make payments • Schedule transfers (fund, wire and ACH) • Issue stop payments • Deposit checks using your RDC machine • Review and approve Positive Pay exceptions
Mobile Banking • Transfer money between accounts • Deposit checks • Approve scheduled transfers • Receive alerts • Schedule bill payments
For details, visit InvestorsCommunityBank.com/digital-banking
1. Matthew Kee, venture fund and startup development manager
2. Randy Knaflic, former HR executive with Google, Jawbone and SpaceX, speaks at The Founders’ Circle
3. Adam Hardy, founder and CEO of Future State, pitches at TechConnect, November 2019
Tundra Angels
On the road to entrepreneurship, one of the most challenging hurdles is startup capital. In July 2020, the Startup Hub launched Tundra Angels, an angel investor network that aims to deliver capital, connections and customers to early-stage companies. One of the objectives under the strategic plan is to develop a capital mechanism for early-stage, high-growth ventures, and Tundra Angels is a solution to filling the funding gap. Tundra Angels represents the only formal angel investor group in Northeast Wisconsin.
Founders’ Circle
In February 2020, the Startup Hub launched The Founders’ Circle, an intimate group of local founders of high-growth, highly-scalable companies that meet every month to share mutual challenges and gain tactical advice. This group consists of 20 local founders in Greater Green Bay. In the past year, the group has learned fundraising tactics from a former managing director of Techstars, how to write a compelling one-liner from a marketing expert, and formed connections with each other that didn’t exist just a few months ago.
TechConnect
We launched TechConnect in November 2019, where, during two events, eight area startups pitched an audience of software developers and designers to form a technical co-founder or advisor relationship. A Green Bay-based founder, Adam Hardy, Future State, connected with a technology professional who became his co-founder, and they now have a live platform with active customers. The second TechConnect event was held in June 2020, where each founder made value-added connections with technology professionals. More than 150 people attended the events.
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