July 2008 Volume 1 Issue 4

In This Issue

Sedlacek Becomes A BR&E Project Coordinator

Grants For Your Business? Fact or Fiction

Sedlacek Becomes A BR&E Project Coordinator

Nicole Sedlacek, economic development coordinator for Holt County Economic Development, recently completed the University of Minnesota's Business Retention & Expansion course to become a certified BR&E consultant.

As a consultant she received training to help mobilize volunteers and conduct a BR&E program; understand where a BR&E program 'fits' in a local economic development strategy; how to conduct effective firm visits and train others to make visits; how to

write a plan of work to implement and guide the program, how to identify and resolve issues of immediate concern to local business and how to develop a plan with effective implementation strategies.

The course was over a ten week time period and was delivered online by University of Minnesota staff.

Sedlacek received a scholarship from the Nebraska Economic Developers Association (NEDA) to participate in the class.

Greetings!

In each of our newsletters we share a little piece of the framework that Holt County Economic Development uses to facilitate growth for our area. This month we discuss the Existing Business and Entrepreneurship strategy.

Statistics and studies show that approximately 75% of new jobs created in a community will come from existing business. We know that one of the best ways we can contribute to the continued success of our existing businesses is through ongoing, direct and customized assistance. The well being and growth of our existing businesses is a large piece of the economy of Holt County. Holt County Economic Development will work to gain a better understanding of the economy, local companies and future changes.

In the next issue we will discuss the Leadership Development component in more detail.

What Is Economic Development?

What is economic development? Very basically, it all comes back to quality job creation and creating wealth in the community. The position of an economic developer in rural Nebraska is very different that it would be in a large city.
In rural Nebraska it means:

Establishing the financing necessary to fund an on-going and effective economic development program.
Retaining and strengthening existing businesses and industries around Holt County.
Expanding the markets for existing business through the use of technology.
Recruitment and incubation of new businesses that fit in the county.

Although the general goals for Holt County Economic Development are clear, the specific strategies and implementation for the goals must be developed through meetings with the local business owners, city and county officials and the community as a whole.

It is important to remember that for an economic development program to be successful it must be carried out on an on-going basis over an extended period of time.

Grants For Your Business...Is It Fact or Fiction?

We've all seen the headlines: "Millions in free government money for your business." Late-night infomercials, reference guides and websites promote the availability of grant money to entrepreneurs for starting and expanding businesses. Sound too good to be true? It is.

The truth is that most federal, state and local governments do not provide grants for starting and expanding small businesses. However, some enties offer a wide-variety of low-interest loans and venture capital financing programs to help entrepreneurs start and grow their businesses.

Holt County Economic Development exists to help connect start-up and existing businesses to real, credible resource providers at the local, state, regional and federal levels. For more information please contact the Holt County Economic Development office at (402) 336-1504.

Holt County Economic Development Sponsors

Holt County Economic Development is also funded in part by a grant from the Nebraska Department of Economic Development administered by the Nebraska Rural Development Commission.