Ravalli CountyRavalli CountyEconomic Development Economic Development

AuthorityAuthority

RCEDA is comprised of 7 RCEDA is comprised of 7 Commissioners, appointed Commissioners, appointed by the County by the County Commissioners.Commissioners.

Commissioners serve 5 Commissioners serve 5 year terms.year terms.

RCEDA was formed in 1997 as a Port Authority by the Ravalli County Commissioners. The RCEDA enhances the Bitterroot Valley, alone or cooperatively, through quality economic development.

Ravalli Entrepreneurship Ravalli Entrepreneurship CenterCenter[REC][REC]

New EconomyNew Economy– From Extraction to From Extraction to

Information and Service Information and Service based Economybased Economy

Goal: Knowledge Goal: Knowledge Based CommunityBased Community

Model: Economic Model: Economic GardeningGardening

Preserve Key Asset: Preserve Key Asset: The Valley’s Quality of The Valley’s Quality of LifeLife

Unique Assets We Have:Unique Assets We Have:

Amazing recreation – Amazing recreation – 75% of Ravalli County 75% of Ravalli County federally owned.federally owned.

Great schoolsGreat schools Cultural AmenitiesCultural Amenities

Performing Arts CenterPerforming Arts Center An Existing Biotech An Existing Biotech

Knowledge Base with Knowledge Base with ready-made marketsready-made markets

REC OverviewREC Overview

$3.2 million dollar $3.2 million dollar facilityfacility

10,000+ square 10,000+ square feet of Premiumfeet of Premium– SpaceSpace– ServicesServices– Quality of LifeQuality of Life

Federal, state, Federal, state, RCEDA, bank and RCEDA, bank and local fundinglocal funding

Potential Additions to RECPotential Additions to REC

GSK R&D GSK R&D DepartmentDepartment

University of University of Montana Education Montana Education CenterCenter

Bitterroot Bitterroot Community CollegeCommunity College

Bitterroot Job Bitterroot Job ServiceService

FacilityFacility

4 acres on Old 4 acres on Old Corvallis RoadCorvallis Road

Flexible spaceFlexible space Lab space availableLab space available Grand Opening fall Grand Opening fall

of 2009of 2009 Monthly - $1.25 to Monthly - $1.25 to

$2.00 per sq. foot$2.00 per sq. foot

ServicesServices

“ “We'll be assisting the RCEDA with vetting We'll be assisting the RCEDA with vetting applicants and assessing proposals to make them applicants and assessing proposals to make them more solid, to make sure they have rigorous more solid, to make sure they have rigorous review and a solid business plan," said Michael review and a solid business plan," said Michael Covarrubias, site director of GSK's Hamilton Covarrubias, site director of GSK's Hamilton operation. "We expect that most of them will operation. "We expect that most of them will need money. The RCEDA can introduce them to need money. The RCEDA can introduce them to investors, and our hope is that some could be investors, and our hope is that some could be funded."funded."

ServicesServices

Rob Ryan founder of Ascend Rob Ryan founder of Ascend Communications will personally meet with Communications will personally meet with Entrepreneurs at his Roaring Lion Ranch to Entrepreneurs at his Roaring Lion Ranch to evaluate and advise on business plans.evaluate and advise on business plans.

REC ServicesREC Services

Mentoring, Coaching, Mentoring, Coaching, Advisory BoardsAdvisory Boards

Networking, Access to Networking, Access to Capital ProgramsCapital Programs

Quality Common Area Quality Common Area features: Conference features: Conference Room, Technology, Room, Technology, Business CenterBusiness Center

Support from the Support from the Higher Education Higher Education CommunityCommunity

Conclusion –Conclusion –With your help REC will provideWith your help REC will provide

– Successful, home-Successful, home-grown, businessesgrown, businesses

– Good-paying jobsGood-paying jobs

– Quality of LifeQuality of Life

The facility and technical assistance to create a The facility and technical assistance to create a Knowledge-Based Community.Knowledge-Based Community.