- The Bank of North Dakota has released two new business financing programs to assist North Dakota businesses respond to impacts of COVID-19.
The COVID-19 PACE Recovery Program (CPRP) will provide a loan of up to $5 million for businesses of less than 500 employees and a loan of up to $10 million for businesses with more than 500 employees.
The Small Employer Loan Fund (SELF) will provide a loan of up to $50,000 to small businesses with a full-time employee equivalent (FTE) of 10 employees or less.
- UAS News:
Flytrex is helping Grand Forks residents stay safe by delivering lightweight goods via drone delivery right to their doorstep. The pilot program is taking place in Grand Forks in partnership with EASE Drones, City of Grand Forks, and the EDC. Forbes Article
SkySkopes has partnered with UND’s Center for Innovation and Research Institute for Autonomous Systems to test the abilities for drones to spray disinfectants, deliver supplies and sense body temperatures remotely. Read more
A missing child has been found safely in Minot, thanks to the swift actions of SkySkopes and the Minot Police Department. Read more
- ND Smart Restart
Governor Burgum recommended protocols for the graduated reopening of North Dakota on May 1st: -Robust, widespread rapid testing capacity -Robust contact tracing and infrastructure
-Targeted, effective quarantine
-Protections for the state’s most vulnerable populations
-Sufficient health care capacity, hospital/ICU beds
-Adequate PPE availability for the health care system and public
-New standard operating procedures for reopening
-Plans for dealing with a resurgence or additional waves of COVID-19.
Entire press release is available at: https://bit.ly/2xZBaLA
- EDC President and CEO, Keith Lund served as a panelist on an Economic Development Association call about our region’s effort to remain engaged with businesses during this difficult time. Lund highlighted community meetings with Grand Forks businesses, local lenders, Bank of North Dakota, and the Dept. of Commerce. In an effort to stay informed, the EDC and community partners have been in constant contact with state leaders about policies and programs during the COVID-19 pandemic. EDC Resource Page
- Pro Transport is planning to purchase a lot in the Grand Forks Business Park to construct a brand new corporate headquarters, positioning them for continued growth. This past month they received a Flex PACE loan from the Jobs Development Authority in support of the $3 million investment.
- HB Sound & Light has received a Flex PACE loan from the Jobs Development Authority to purchase new, innovative equipment which will expand their services offered throughout the upper Midwest.
- StartUp Grand Forks applicant, Valley TechPros received final approval from the Jobs Development Authority for a $20,000 loan, matched by $10,000 from the North Dakota Development Fund, to help add additional employees, purchase new equipment/tools, and Apple accreditation as an independent repair shop. Valley TechPros provides computer, phone, tablet & small electronics repairs.
- In Greater Grand Forks: Way Cooler Than You Think! news, Kristy Henning organized a vehicle parade to thank our healthcare heroes at Altru. Check out the video!
- Congratulations to EDC Workforce Manager Becca Cruger, who has accepted a three-year term on the Community Foundation’s Board of Directors! Read the announcement
- Successful StartUp Grand Forks applicant, Red Pine Distillery is doing their part to stop the spread of COVID-19 by switching from making vodka to hand-sanitizer. “The majority of it I will be donating to places like Altru and nursing homes, and then make it available to the public.”- Tyler Seim, Owner Read full story
- Bonus Items!
–EDC Work-Study Colby Smith took second place in the Red River Valley Business Plan Competition for his project PreFlight, which is a business targeting customers interested in buying small aircraft and an end of market area that most aircraft vendors ignore.
-Incoming EDC Intern, Svea Olson won the Skywalk Challenge for her concept of L.U.C. Studio, a gym targeted towards women. Learn more about their projects here.