Great Falls Economic Development Quarter Index 2019 Q4

GFDA Index 4th Quarter 2019

 

Great Falls MSA rank amongst all U.S. metro areas for highest concentration of millennials:  Top Quarter

Great Falls MSA GDP growth in 2018:  7.4%

Dollar increase in Great Falls MSA GDP:  $288 million

Great Falls metro GDP growth 2013-2018:  25%

Private sector GDP growth during these five years:  29%

Increase in personal income in Great Falls MSA in 2018:  5.0%

Inflation in 2018:  1.9%

Per capita personal income growth during 2018:  4.9%

Local employment growth 2018Q3-2019Q3 in administrative support due to FCR hiring:  8.1%

Employment multiplier rate for food manufacturing in Great Falls MSA:  2.68

Projected local total employment growth for every 10 new food manufacturing jobs:  27

Great Falls MSA average annual wage increase 2018Q3-2019Q3:  5%

Average annual wage earnings increase:  $2,003

Consecutive quarters Great Falls MSA has experienced average annual wage growth:  23

Seating capacity in largest room of University of Providence’s new University Center:  300

Business retention and expansion outreach visits during quarter:  30

Active new client projects started from these visits:  5

GFDA business development trips during quarter:  9

New leads generated into our pipeline during quarter:  14

New active projects generated into our pipeline:  9

New companies added to our pipeline:  24

Participants in our first two Get Back to Great Falls workforce recruitment events:  37

Great Falls building permits issued during quarter:  75

Great Falls building permit valuation:  $16,746,682

Downtown building permits issued during 2019Q3:  13

Total value of downtown permits:  $1,864,562

New downtown businesses opened during 2019Q3:  4

Downtown volunteer hours donated:  11,934

Number of local entrepreneurs and businesses coached by GFDA during quarter:  105

Of these, number of new coaching clients:  35

Number of business training sessions offered during quarter:  13

Number of training participants:  132

New capital secured by entrepreneur clients during quarter:  $1,249,439

Government contracts won by clients during quarter:  $2,001,550

Participants in our first two rural entrepreneurial Pitch Nights:  46

Jobs supported by our Small Business Development Center during quarter:  287

New rural county clients coached by our Small Business Development Center since adding a rural-based business advisor in October:  14

Amount of loans closed during quarter:  $919,000

Private investment leveraged by these loans:  $1,344,757

Jobs created by loans:  11

High quality daycare slots created by loans:  130

Most recent SBA 504 effective loan rate fixed for 25 years:  3.71%

Number of applicants for five positions GFDA has filled in last two quarters:  434

Number of students who have graduated from Great Falls Public Schools’ Preschool since its founding ten years ago:  1,043

Senior executives who agree that their company will need to make significant changes to keep up with growing customer expectations:  75%

Senior executives who report that a greater need for customer-centricity has had significant impact on their company’s business model in the past five years:  50%

Senior executives who say their company has fully integrated customer input into product design and innovation:  40%

Montana rank for Smartest State:  5th

Montana rank for Best State for Middle Class:  8th

Montana rank for Best State for Millennials:  10th

Average days to obtain all necessary permits for new construction in U.S.:  81

Organic food sales growth in U.S. in 2018:  5.9%

Total food sales growth:  2.3%

Total organic food sales in U.S. in 2018:  $47 billion

Food that average American household throws out per day:  One Pound

U.S. budget deficit as a percentage of GDP (estimated 2019):  4.6%

Countries with higher rates:  Pakistan, Brazil, Eygpt, Saudi Arabia and South Africa

Robocalls made in United States during 2018:  26.3 billion

Increase from 2017:  46%

Robocalls per minute:  50,000

Number of fresh cheese curds eaten by Great Falls team touring Wisconsin cheese-making plants:  Way Too Many!