Great Falls Development Association Issues New Strategic Plan Draft

Investors Want to Increase
Comprehensive Economic Development Efforts

The Great Falls Montana Development Authority is today issuing a new draft Strategic Plan, seeking feedback from GFDA investors and community members. The draft has been unanimously adopted by GFDA’s Board of Directors, based on a survey of our public and private investors.

GFDA’s Board sets the strategic direction of our efforts, determining the strategies and tactics we pursue to generate return on investment for the Great Falls region. The Board represents our investors, the companies, agencies and individuals who invest in our regional economic development efforts. We are constantly making tweaks to the plan as market conditions change, then every 2-3 years we throw everything out and start fresh. That’s what we have done this spring and summer.

Strategic planning is about setting priorities. We are constantly looking at how we can best use our limited local investment to generate the biggest possible impact on the Great Falls regional economy. We pursue market-driven opportunities to win private sector investment to create new higher wage career opportunities, grow our tax base, strengthen our economy through growth and diversification, and improve the market competitiveness of Great Falls.

We asked our investors this spring to assess the seven major strategic directions of our comprehensive economic development effort. We asked investors to tell us whether we should invest less, the same, or more in each area. Resoundingly, our investors said they wanted to continue to invest the same or more in all seven areas:

Business Startup, Retention & Expansion
Work with companies and entrepreneurs throughout our trade area to support business retention, expansion and new business startups.

Invest the same 48%; invest more 45%

Business Attraction
Seek new, diversified business investment through market-based, targeted business attraction efforts.

Invest the same 17%; invest more 83%

Commercial & Housing Development
Work with and attract real estate developers and retailers to invest in renovations, new construction, and new businesses.

Invest the same 59%; invest more 24%

Downtown & Riverfront Redevelopment
Attract real estate and business investment in downtown Great Falls and the urban river corridor.

Invest the same 38%; invest more 55%

Great Falls AgriTech Park
Develop and market shovel-ready, competitive heavy industrial sites to support business retention, expansion, startups and attraction.

Invest the same 57%; invest more 36%

Manufacturing Partnership
Work to expand and diversify targeted manufacturing industry clusters.

Invest the same 52%; invest more 41%

Workforce
Work with partners to develop workforce skills and attract more talent.

Invest the same 39%; invest more 50%

Please download and study our new draft plan, it’s only one page long. Let me know what you think by replying to this email or emailing me at [email protected]. I will compile your thoughts for consideration by our Board.

We particularly want to hear from our outstanding current and future business investors because the plan steers how we put your dollars to work.

We are hungry to grow the Great Falls region!

Brett

Download
DRAFT STRATEGIC PLAN http://files.constantcontact.com/3e765937001/e11b4349-b1f4-4216-9eff-9050493f6f30.pdf

Vision
Hungry to Grow the Great Falls region

Mission

Grow and diversify the Great Falls regional economy.
Create higher wage career opportunities.
Improve market competitiveness.

The first economic development organization in the Rocky Mountain West to earn accreditation from the International Economic Development Council.

GFDA is a certified Community Development Financial Institution and a 501(c)3 charitable organization. High Plains Financial is a certified Community Development Corporation that offers SBA 504 loans statewide. GFDA and High Plains Financial are Equal Opportunity Lenders.

GFDA is proud to host a Montana Small Business Development Center
and a Montana Procurement Technical Assistance Center.

For more info, click to our website. http://www.gfdevelopment.org/