Area Development News

Project Firefly in Ely Receives SPEDCO Grant
Posted on Oct 25 2007
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( Ely, MN ) Project Firefly™, an initiative of the Ely Area Development Association (EADA), received a $10,000 grant from the SPEDCO Economic Development Foundation. SPEDCO is a not for profit, certified development company authorized to act on the behalf of the U.S. Small Business Administration to originate and service SBA 504 loans.The main purpose of the company is to assist and promote economic growth and development of small businesses throughout the State of Minnesota and 9 counties in western Wisconsin. SPEDCO Economic Development Foundation s a corporate donor advised fund of The Saint Paul Foundation. The purpose of the $10,000 grant is to assist developing local homegrown innovation in the Ely, MN area.

The Saint Paul Foundation is closely affiliated with the Minnesota Community Foundation, a statewide community foundation that works to strengthen communities through innovative grantmaking. Jennifer Hoffman, Gift Planner and Community Fund Specialist for the northern Minnesota office of the Minnesota Community Foundation, based in Hibbing, MN , presented the grant award to Project Firefly™ at the Ely area Community Economic Development Joint Powers meeting on Wednesday, 24 October 2007.

Ms. Hoffman said, "I am very pleased to be here today to present this grant award to the Project Firefly™ team.SPEDCO is very interested in supporting innovation and entrepreneurship and the Minnesota Community Foundation, working in conjunction with The Saint Paul Foundation, has helped to provide the framework for the donors to make their award. We are very pleased that this award is going to a northern Minnesota project."

Project Firefly™ is designed to develop local innovation in the Ely area.The project received an initial Blandin Foundation grant of $50,000 in 2006 and, with that grant, did a survey of local and area metal manufacturing capacity, established the Innovators Circle™, and identified several products which were enhanced in the Innovators Circle™.The Innovators Circle™ is comprised of local and area people who are talented in the areas of mechanical design and engineering. Products move through the Innovators Circle™ where designs are improved upon before going to prototype.The proposal to SPEDCO was for software and training and a continuation of the prototype development process.

Pat Henderson, Ely Area Development Association Executive Director and Project Coordinator for Project Firefly™ said, "We are grateful to SPEDCO for this award.This funding will allow us to proceed with the product design process for our initial three products. This has been a team effort to date and that team effort is based on trust.Any future success of Project Firefly™ will be a result of trust and teamwork.We are fortunate to have the support of the EADA Board of Directors and the Joint Powers Board and the creative brilliance of the members of the Innovators Circle™ whom I want to thank for being instrumental in progress to date. I also want to thank Project Manager David Kromer, Project Researcher Barbara Schultz and the inventors who have brought their designs to us.The SPEDCO grant will move us forward in the product development process."

The Joint Powers Board funds the EADA and is comprised of representatives from Ely, Winton, Babbitt, Morse Township , Ely Bloomenson Community Hospital , Ely School District #696, Vermilion Community College and the Ely Chamber of Commerce. The EADA employs two staff and operates in the Ely Economic and Technology Center which is a partnership between the EADA and Vermilion Community College Customized Training and Continuing Education.