FCEDA

FCEDA

“Luck is what happens when preparation meets opportunity.”

-Don Bennett, Flathead County Economic Development Authority

Flathead County Economic Development Authority: Preparing to Meet the Future

Flathead County Economic Development Authority (FCEDA), also known as “The Port Authority”, is Flathead County’s strategy to prepare for economic development opportunities that migh arise and require investment.  The philosopy of the FCEDA Board is to use the funds for projects that offer a strong return on investment to the community in terms of jobs and a broader tax base.

FCEDA is supported by Flathead County through funds collected by mill levy. These funds are set aside to accumulate and the port currently has over $1 million dollars to invest in future economic development opportunities.

Achievements to Date:

• Purchased 1/3 of the Gateway West Mall in conjunction with the City of Kalispell. This property in currently leased to TeleTech, a company that provides over 400 jobs, computer and customer service training and benefits to all employees.
• Guaranteed the loan to extend the Gateway West Mall parking lot to secure TeleTech’s relocation to Kalispell.
• Guaranteed road paving to Total Resource Label’s new facility in order to expedite the company’s decision to relocate and grow, increasing their employee base. However, after review Flathead County was able to complete this project without use of FCEDA funds.
• Provided $50,000 to the Airport Authority to secure United Airline flights into Glacier International Airport.
• Matched Montana West Economic Development funds to establish a four county Economic Development District as required by the EDA in order for Flathead County to qualify for federal economic development funds.
• Over $1 million in savings to assist economic development when opportunities arise.

Guidelines for Investments:

The funds of Flathead County Economic Development Authority (FCEDA), also known as the Port Authority, are invested to support a robust program of economic development for all of Flathead County. Uses of these funds may include: marketing, retention and expansion of businesses, entrepreneurial support, and access to capital, acquisition of demographic and regional information, public/private partnership projects and administration costs for the Port Authority. Funds expended for administrative costs may be leveraged with private sources of funds.

Port funds may be used to leverage other public and private investment sources. Port investments may include a financial match for grants that benefit the region’s economy and/or provide reserves to secure funds for lending to area businesses.

Port investments in real property should meet one or more of the following criteria:

• Attract significant private investment that adds to the tax base for the county.
• Attract employment opportunities that provide above average wages or higher skilled jobs.
• Secure a real asset that supports economic development and has market liquidity.
• Invest in assets that can provide a return to taxpayers.
• Stimulate long term business development where the private sector may not be willing to invest.

Investments of Port revenues in real property should benefit all the communities in the Flathead Valley. Consideration should be given to equitable distribution of investment in each community in the county.

The Port endeavors to maintain liquid assets so that funds are available to take advantage of investment opportunities as they may arise.

FCEDA Board 2009

Don Bennett-Freedom Bank
Jim Dupont-County Commissioner
Jeannie Luckey-Raymond James Financial Services
Gary Hall-
Charlie Grenier-Retired
Lyle Mitchell-Lyle Mitchell Insurance Agency Inc.
Turner Askew-Turner Askew and Associates

The Flathead County Economic Development Authority consists of a seven member board. Board members are appointed by the County Commissioners. The FCEDA Board and the County Commissioners determine the use of all FCEDA funds.

Montana West Economic Development has been appointed by the FCEDA Board and County Commissioners to oversee marketing, retention and expansion of businesses, entrepreneurial support, and access to capital, acquisition of demographic and regional information marketing as it applies to economic development for Flathead County.

For more information about Flathead County Economic Development Authority contact the President/ CEO of FCEDA at 406-257-7711.

Click here to view FCEDA ByLaws.