Towner County 

Economic Development Corporation

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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