If you caught HappyValley Industry’s recent quick guide to the vast entrepreneurial ecosystem that exists within the region, then you know there’s no shortage of support for entrepreneurs at every stage of the business journey. With each of these valuable resources, we’re doing a deeper dive into what exactly they offer and how they can help. First up? The Moshannon Valley Economic Development Partnership (MVEDP).
Here’s what Stan LaFuria, executive director, had to tell us.
Can you give us a summary of what exactly the MVEDP does?
The MVEDP is a private, non-profit economic development and chamber of commerce organization formed in 1988 in response to the collapse of the coal-driven economy here.
Economic development has three key components: (1) Working with entrepreneurs to assist them in starting new businesses (2) business retention and working with existing businesses to strengthen them, and (3) business attraction. Normally, business retention is the number one work activity of economic development organizations.
To effectively [promote] economic development, the non-profit economic development office needs to have tools available to assist private sector businesses. These include land/sites to offer, and building space, financing for projects and a trained workforce that is available to take the jobs that are created by the businesses. The MVEDP has been very fortunate to have [these] tools available to assist entrepreneurs and businesses.
We developed two business parks so that land would be available to offer to businesses. We have two multi-tenant buildings totaling 240,000 square feet and we have a revolving loan fund program that can provide loans to businesses.
We don’t do any work directly regarding the workforce, but we are very close to the organizations that are involved in workforce training. Years ago, we attracted three different schools to this area: Johnson Technical Institute, South Hills School of Business & Technology and DuBois Business College. The idea was to bring the training as close to the residents of this area as possible.
What is the primary service that the MVEDP offers to area entrepreneurs?
The MVEDP has a 36-year history of working with entrepreneurs. In the 1990s, we averaged one meeting a week with someone interested in starting a new business. (The entrepreneurial activity now is much less than it was back then.) We would meet with entrepreneurs and find out what type of business they were hoping to establish. We would provide them [with] our Entrepreneur Resource Kit (we still give out this folder of information to entrepreneurs). We would point them in the right direction to receive additional assistance, to the Small Business Development Centers, whose job it is to assist entrepreneurs and possibly assist in the preparation of business plans. One of our key recommendations to entrepreneurs is to have them consider the preparation of a business plan. The business plan requires the entrepreneur to consider the 3 ‘M’s, as I call it: Management, Market and Money.
Another excellent resource is the Ben Franklin program, which can provide financing to entrepreneurs.
The MVEDP has the tools to assist entrepreneurs with land and building space. Since 1990, there have been 26 people from the Happy Valley region that have established their businesses in the Philipsburg/Moshannon Valley area. We now call it the “List of 26”, and the next time that someone from over the mountain comes here with their business, it will be called the List of 27!
Why did they consider our area? Because we had the ready-to-go sites, building space and available workforce. Low-cost building space has been especially a key reason why folks in Happy Valley have established businesses here [in] our Moshannon Valley Enterprise Center and our Moshannon Valley Regional Business Center. The MVEC has been to home to over 75 businesses since 1988.
“The leaders/owners of these companies did an excellent job with growing their businesses. They did the “heavy lifting” so to speak, and the MVEDP was there to assist them with sites, financing or building space.”
Examples of entrepreneurs assisted with land or building space include: Diamondback Truck Covers, Custom Castings NE, Advanced Powder Products, Organic Climbing and Drucker Diagnostics. The entrepreneur-owners of these businesses started with one or two people and then significantly grew their businesses. Advanced Powder Products now has 160 employees! The leaders/owners of these companies did an excellent job with growing their businesses. They did the “heavy lifting” so to speak, and the MVEDP was there to assist them with sites, financing or building space.
“We are committed to the improvement of the economy and overall quality of life in this area.”
At what stage should entrepreneurs connect with the MVEDP and what can they expect to gain from working with you?
The MVEDP always does its best to assist entrepreneurs and existing business owners. We are committed to the improvement of the economy and overall quality of life in this area. Our staff is dedicated to our economic development work. The entrepreneur will receive our undivided attention and will be pointed in the right direction, which will usually involve the SBDC offices. Entrepreneurs can meet with the MVEDP staff at any stage in their business development, but it is usually best if they meet with us during the early phase. We go over the 3 ‘M’s, and the other resources that are available to assist them.
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Thank you for the good story about the work of the Moshannon Valley Econ. Dev. Partnership.
Stan LaFuria
Executive Director
MVEDP