Business and Economy

Residents and business owners agree—the top priorities for our local businesses and economy, according to the Framework for Growth and Investment in Mancelona and Mancelona Area Master Plan, are a talented workforce, access to technical assistance (help with starting a business, accounting, and legal) and capital (grants and loans), and increased retail and entertainment options in the commercial core.

With this guidance, the CRD is working on the following goals related to our local economy.

 

First, expand business access to resources.

The CRD is partnering with Venture North, a community development financial institution that provides technical and capital assistance to businesses in start-up or expansion phase. Venture North works with borrowers who are considered too risky for a traditional lender and focuses their resources in low-to-moderate income communities. Our intent in partnering with Venture North is to raise awareness of the available services and resources for Mancelona businesses and to find and vet candidates who are a good fit for Venture North assistance.

 

Second, strengthen our workforce.

We are brainstorming opportunities to attract or design creative workforce training solutions that benefit and incorporate a range of ages and perspectives, including school-age teenagers, working-age employees, business owners, and retirees who are have decades of experience and knowledge to share. We are collaborating with existing workforce training agencies to make their programming and resources more accessible in Mancelona and working with local partners to design Mancelona-focused training opportunities where appropriate.

 

Third, market our community to desired businesses.

The CRD believes that much of our community’s “wish list” of new businesses, specifically retail and dining options, will grow from local and regional entrepreneurs with smart ideas but who need assistance to incubate or expand their concept. We are working to connect these folks to needed assistance (goals one and two above) but also to attract businesses and employers who are currently located outside of lower Northern Michigan but who might have grown up in Mancelona, spend their summers here, or have families in the area. Whatever their connection to Mancelona, we need to reach these folks with a compelling story and vision for how and why Mancelona is the right fit for their existing and next venture.