Economic Resilience Planning
The MMDC can help local businesses improve their ability to adapt to, withstand, and quickly recover from disruptions caused by emergencies (e.g. pandemics and other natural or human-centered disasters). We will help businesses determine areas of vulnerability, then take actions that will address their specific disaster needs. This lays the foundation for the development of Business Continuity Plans.
Business Planning Assistance/Referral
The MMDC can connect businesses with free services available through the U.S. Small Business Administration’s Small Business Development Centers. These consultation services will help businesses develop and strengthen business plans to maximize success. The MMDC can also help business owners, and would-be business owners, establish mutually beneficial relationships with other vendors and/or potential customers.
Opportunity Zone Technical Assistance
Opportunity Zones are low income census tracts nominated by governors and certified by the U.S. Department of the Treasury. Investment in any one of these zones is rewarded via tax benefits. The MMDC’s four-county region is home to three Opportunity Zones and our staff can provide the assistance businesses need to take advantage of this incentive.
Loan Packaging Assistance
To get a business off the ground, financing is often needed. The MMDC can work with borrowers to help them assemble the information and documentation needed to secure their loan. This could include developing a statement of purpose, assembling a business plan, and gathering necessary financial documents.
Ecommerce-Focused Technical Assistance
While online purchasing has been steadily growing in popularity, the COVID-19 Pandemic has sent ecommerce skyrocketing. Those businesses who already had or were able to add online browsing, ordering, or purchasing were better able to adapt and often maintained higher levels of operation than those who didn’t or couldn’t integrate ecommerce into their business model. The MMDC can provide technical assistance to help businesses identify and execute online strategies that will help them improve their resilience during future emergencies.
Developing and Strengthening Local Supply Chains
During the COVID-19 Pandemic, it became difficult for many businesses to procure materials and equipment needed to keep operations up and running. Many consumers also grappled with shortages of certain foods and other commodities. The MMDC can help work with businesses to identify potential areas of weakness in their supply chain and help them to locate local or regional partners to minimize these difficulties. The MMDC can also work with businesses who wish to adjust their operations during times of emergency to supply equipment or provide services needed during times of emergency.
Business Opportunity Marketing
The MMDC is happy to promote business opportunities and share information on available commercial and industrial property with potential investors, in an effort to stimulate economic health throughout the region.