Resource Center News

Douglas McDonald, Praxis Strategy Group Senior Consultant Speaks @ Great Falls Montanta Investor Luncheon

Great Falls and the surrounding area need to pull together and work cooperatively to get through the current economic downturn, according to a consultant.

Douglas McDonald, of the Praxis Strategy Group, was hired to do study the effects of the deactivation of Malmstrom’s 564th Missile Squadron.

McDonald gave a presentation Wednesday at the Great Falls Development Authority’s investor luncheon on finding opportunities in a down market.

Great Falls has the potential to draw people who are looking for stability in the current economic flux, McDonald said.

At the same time, it will be harder to recruit companies.

Local entrepreneurs and small businesses will become increasingly important to economic development.

“When you’re looking at growth opportunities and not focusing on small businesses, you’re really missing a big piece of the pie,” McDonald said.

Great Falls can also build on its strong history of agriculture.

If the region works together during these slow times to effectively capitalize on the region’s strengths, it will come out better, stronger and ready to capitalize on “pent-up opportunities” when the economy turns around, he said.

Earlier Wednesday, the GFDA laid out its legislative priorities for the upcoming session.

Its top priority will be securing about $5 million in funding for an industrial technology building, child care center and wind turbine at the MSU-Great Falls College of Technology.

During the last session, MSU-GF received $3 million for its Building Trades building.

The industrial technology building and child care center are not on the Board of Regents’ list of priorities so supporting the project during this session may put it in line to receive funding in the 2011 session.

The GFDA also plans to support several economic development programs, including the New Primary Worker Training Program, which reimburses employers who create new positions and train employees.

During the 2007 session, funding for that program increased from $1.5 million a year to $4 million a year. This year the governor is supporting an increase in funding to $6 million a year. The GFDA plans to support that increase.

The Development Authority will also oppose any attempts to further restrict tax increment financing and will support the creating of a Brownfield program within the state Department of Environmental Quality.