GFDA 2nd Quarter 2022 Index

GFDA Great Falls Development Authority


Number of units in Aurora Apartments development adjacent to the Touro Montana Medical School construction: 216

Number of units in planned Carter Commons affordable senior housing development: 25

Speed of all-fiber broadband network TDS Telecommunications is constructing throughout Great Falls: 2Gig

Record number of The Fire Within female entrepreneur award winners: 32

Mill levy increase in City of Great Falls from newly taxable property since 2002: $8,750,727

Amount of pasta produced annually by Pasta Montana: 85 million pounds

Number of hives Smoot Honey puts out in region: Over 5,500

Megawatt generation increase in Great Falls area dams underway by Northwestern Energy: 4

Average annual wage growth in Great Falls MSA in 2021: 3.2%

Average annual wage in 2021: $46,437

Average annual wage growth in 2021 $1,430

Dollar amount of annual total wage growth Great Falls MSA in 2021: $103 million

Cost of living in Great Falls in 2022Q1 compared to national average: 86.7%

Number of CNA graduates in first year of Great Falls College MSU program: 52

Completion rate: 100%

Percentage of College’s CNA graduates who passed certification and are working for five health care providers in the region: 94%

Funding announced by U.S. Dept. of Interior for Rocky Boy Central Montana Rural Water System and St. Mary Diversion water project: $142 million

Companies added to our CRM this quarter: 143

Companies we actively engaged with this quarter: 363

Target activity this quarter (companies and developers we have targeted to try to attract into Great Falls trade area): 67

New targets identified this quarter: 16

Total current identified targets: 292

New leads generated this quarter (companies and developers with planned investments that are considering Great Falls trade area): 39

Active projects (investments in Great Falls trade area planned by companies and developers) we worked on this quarter: 45

Entrepreneurs, future entrepreneurs, and businesses in Great Falls trade area advised by GFDA during quarter: 187

Of these, number of new advising clients: 69

Entrepreneur and business training sessions offered during quarter: 14

Number of training participants: 175

Businesses bought or started by advised clients during quarter: 7

New capital secured by entrepreneur clients during quarter: $724,479

Jobs supported by our Small Business Development Center (SBDC) during quarter: 467

Businesses active with our Procurement Technical Assistance Center (PTAC) this quarter: 156

Amount of government contracts won by clients during quarter: $554,119

GFDA gap and bridge loans closed during quarter: $1,130,000

Additional private investment leveraged by GFDA loans: $7,019,618

SBA 504 loans closed during quarter: $173,000

Additional private investment leveraged by these loans: $252,000

504 loans approved by SBA this quarter: $147,000

Additional private investment to be leveraged: $210,000

Current SBA 504 fixed 20-year effective loan interest rate with 10% down: 5.047%

Current 10-year equipment effective fixed rate: 4.962%

Free Brownfield assessments completed: 4

Free Brownfield assessments underway: 3

Brownfield cleanups underway: 2

Factors scoring over 90% in corporate site selection survey: labor costs, availability of skilled labor, energy availability and costs, inbound/outbound shipping costs, and highway accessibility

Factors scoring over 80%: raw materials availability, corporate tax rate, state and local incentives, environmental regulations, tax exemptions, quality of life, occupancy or construction costs, and right to work state

Montana rank for bars per capita: 2nd

Montana rank for best state to retire in: 7th

Increase in Montana meat processing so far in FY2022: 50%

Increase in number of animals processed: 34,942

Average cost reduction announced by Montana State Fund worker compensation system: 3%

Percentage of online buyers who do in store research before purchasing on web: 60%

Ransomware attacks in U.S. in 2021: 420 million

Cybersecurity industry revenue in 2021: $150 billion

Increase since 2020: 98%

U.S. college student loan debt: $1.6 trillion

Student loan balance held by borrowers over age 50: 23%

U.S. renters who live with a pet or service animal: 64%


For info contact Jolene Schalper at [email protected] or 1-406-750-4481

PDF of 2022Q2 GFDA Quarter Index

Our Mission

Grow diverse economic opportunities that enhance quality of life.

Great Falls Region Community Vision

The Great Falls Region will be a proud, positive, and vibrant community, which welcomes new people, new investments, and innovative opportunities while celebrating its authentic and diverse Montana culture. Our community will be a safe and inclusive place to raise families and will offer opportunities for individual growth and quality of life, which retains and grows our population.

GFDA Organizational Vision

Great Falls Development Authority will be a change agent, catalyst, and facilitator in the Great Falls region, fostering collaboration and partnerships to support diverse economic opportunities, innovation, and growth. Our economic development organization will be a high performing leader in attracting new investment and talent. Our work providing access to capital, consulting, training and resources for entrepreneurs, businesses, developers, and nonprofits will transform Great Falls and the surrounding 13-county trade area into a thriving regional economy that enhances the standard of living for our people.

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 Employers and Lenders.

GFDA is proud to host a Montana Small Business Development Center, a Montana Procurement Technical Assistance Center, and a Montana Food & Ag Development Center. We are also proud to provide office space for MSU’s Montana Manufacturing Extension Center and an SBA Women’s Business Center in partnership with the University of Montana and the Montana Native Growth Fund.

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

For more info, click to our website.

Great Falls Development Authority |
See what’s happening on our social sites:

Sorry, we couldn't find any posts. Please try a different search.

Leave a Comment

You must be logged in to post a comment.