Towner County
Economic Development Corporation
Towner County Economic Development Annual Meeting
Tuesday, June 8th, 2021
6:30 p.m. at the Cando Golf Course
The Towner County EDC is the local non-profit development corporation who acts as the Job Development Authority for Towner County. Incorporated in 1978 as the Durum Triangle Industrial Park Corporation, the EDC has served the area for more then 40 years.
The EDC is governed by a nine member volunteer board of directors; 5 elected by the membership; 1 from the City of Cando; 1 County Commissioner and 2 appointed by the County Commission.
Revenues to operate come from County and City of Cando mill levies, along with membership and interest funds. Annual fixed expenses are minimal, with administrative services provided through a contract with Towner County.
The EDC works with existing and new businesses in Towner County, providing access to technical assistance, direct loans through a revolving loan fund and funding through interest-rate buy-downs in participation with local lenders and the Bank of North Dakota.
A small grant is provided to the North Central Small Business Development Center which helps individuals start, manage and grow their businesses through free, confidential counseling.
TCEDC
Board of Directors
Lana Nicholas
Katie Miller
Amy Nikoliasen
Jeremy Johnson
Jim Gibbens
Lance Teubner
Mark Brehm
Mike Britain
Jenna Martin
2020 Highlights
TCEDC provided a small grant to Heartview Foundation to allow the Cando facility to meet a $25,000 challenge grant for a total of $50,000 in operational support.
North Central Small Business Development Center provided free consulting for several clients in Towner County in 2020.
The Annual meeting was not held in 2020 due to the Covid-19 pandemic.
Lance Teubner replaced Scott Boe on the board as the Towner County Commissioner representative.
A North Dakota Flex PACE interest buydown was approved for Staus Family Enterprises, LLC.
A small grant was provided to the North Central Small Business Development Center which helps individuals start, manage and grow their businesses through free, confidential counseling.
2020 Financial Report
Income
Public Support
Memberships
Collateral Cash In
Other
Expense
Operations
Grants
Net Income
Assets
Current Assets
Subsidies Receivable
Total Assets
Liabilities
Loans payable
Equity
Total Liab. & Equity
32,462
2,675
12,245
665
$48,047
13,846
2,000
$15,846
$32,201
206,983
129,397
336,380
31,263
305,117
336,380
2020 Members
A&W
American Bank Center
Belzer Brothers
Cando Golf Club
Cando Greenhouse
Cando Grocery
Cando Home & Hardware
Cando Lumber
Cozy Cafe
D&M Electric Motor & Supply
D&R Tire & Repair
Dakota Country Swine
Dunnigan-Dix Funeral Home
Farmers Union Insurance
First State Bank of Cando
First State Insurance
Gibbens Grill
Gibbens Law Office
Hendrickson Electric
Hexagon Farms
J.R. Gibbens Farms
Legacy Coop
Lil Prairie Greenhouse
Michael Farbo, CPA
Miller Gravel
Neumann Drug
Nicholas Farms
Nodak Mutual Insurance
ND Telephone Company
Northern Plains Electric Company
Premier Wealth Management
Ramsey Bank
SkyCan
Teubner Farms (Jeff Teubner)
The Chocolate Shoppe
Towner County Abstract
Towner County Medical Center
Vondal Electric
Westlind Group
Wilson's Body & Paint
Contact
Information
Executive Director
Joni Morlock
PO Box 781
Cando ND 58324
Phone Number: (701) 968-4340
Email Address: jmmorlock@nd.gov