Great Falls Development Authority Second Quarter 2017 Index

2nd Quarter 2017 Index

Number of jobs FCR has created in new downtown call center: 50

Number expected by end of 2017: 200

Current number of eggs processed annually in Great Falls: 129 million

Number that will be processed here annually after Montana Eggs’ expansion: 269 million

Number of chickens that produce 129 million eggs: 600,000

Number of chickens to produce 269 million: 1.2 million

Human population of Montana: 1.033 million

Increase in average annual wages in Cascade County over past 5 years: 12.8%

Increase in average annual earnings of local workers: $4,456

Total wage earning growth in Cascade County over past 5 years: 12.9%

Annual increase in take-home pay: $163 million

City of Great Falls growth in local property tax revenue from FY 2011-2018: 29.2%

Increase in City annual mill levy due to newly taxable property FY2013-2017: $2,105,572

Global market growth for low-erucic acid rapeseed/canola oils since 2011: 61%

Forecasted growth from 2016-2021: 51%

Daily tons of oil seeds the new Montana Specialty Mills plant will crush: 200

Daily tons of oil the plant will refine: 60

Airline seat capacity increase at GTF this summer: 5,300

Estimated cost of living in Great Falls compared to Billings: 24% lower

Estimated housing cost in Great Falls compared to Billings: 22% lower

Cascade County cost of living as percentage of national average: 92.6%

Billings population growth rate from 2010-2016: 1.07%/year

Projected first year economic impact of growing Cascade County population at same rate Billings has grown for past 6 years: $16.3 million

Economic impact of growing Cascade County population at Billings rate sustained for 10 years: $897 million

Sustained for 30 years: $7.58 billion

Projected increase of households in Cascade County if we grew at Billings rate: 359/year

Direct spending increase within Great Falls MSA in first year: $9.6 million

Direct spending increase over 10 years of sustained population growth: $528 million

Over 30 years: $4.5 billion

Jobs created in Cascade County from one year’s population growth at Billings rate: 149

Local jobs created by growing back to Cascade County’s peak population of 1978: 850

Number of residents in region who shop, dine, entertain and receive professional services in Great Falls: 218,000

Number of GFDA gap and bridge loans approved during quarter: 5

Total amount of loans: $283,548

Additional private investment these loans will leverage: $2,737,730

Number of HPF SBA 504 loans approved during quarter: 4

Total amount of loans: $1,517,000

Additional private investment to be leveraged: $2,676,590

New loan capital grants won during quarter: $540,000

Estimated underutilized labor supply in Cascade County: 16,134

Number of underemployed workers in county: 1,251

Number of entrepreneurs and local businesses coached by GFDA during quarter: 108

Of these, number of new coaching clients: 30

Number of business training sessions offered during quarter: 5

Number of business participants: 61

New private capital secured by small business clients during quarter: $4,410,941

Number of businesses started, bought or announced by coached clients: 2

Government contracts won by small business clients during quarter: $31,319

Number of downtown renovation building permits issued in 1st and 2nd quarters of 2017: 33

Construction total for issued permits: $5,378,496

Number of new downtown businesses opened in 1st and 2nd quarters of 2017: 4

Number of downtown volunteer hours in 1st and 2nd quarters of 2017: 17,302

Drop in average wellhead breakeven price in key American shale plays since 2013: 55%

Breakeven price rank of Bakken amongst the nation’s 5 major plays: Lowest

Projected increase in road and bridge funds City of Great Falls and Cascade County will receive in 2018 from state gas tax increase: $1,013,805

Annual amount of increase projected by 2023: $1,601,618

Number of ethanol plants in the U.S.: 198

Fuel ethanol produced in U.S. in 2016: 14.8 billion gallons
Forecast for 2017: 15.8 billion gallons

Average monthly commercial water charges amongst 12 Montana communities (based on 18,000 gallons per month): $69.74

Average in Great Falls: $46.82

Great Falls cost ranking: 2nd lowest

Average monthly commercial wastewater charges amongst 11 Montana communities (based on 18,000 gallons per month): $91.20

Average in Great Falls: $70.24

Great Falls cost ranking: 3rd lowest

Average amount overseas visitors spend on trip to United States: $4,500

Domestic tourists: $767

Chinese vacationers: $7,200

GFDA 2nd Quarter 2017 Index PDF
Vision http://files.constantcontact.com/3e765937001/1ce6d955-b723-4f4e-abfa-1d06a104be13.pdf

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/

Great Falls Development Authority, Inc., 300 Central Avenue, Suite 406, Great Falls, MT 59401, Mailing Address: PO Box 949, Great Falls, MT 59403