A regional economic development group is seeking solutions to improve the business climate in the Copper Country by recruiting resident college graduates to start businesses.

Marquette’s Northern Initiatives administers revolving loan funds (RLFs) for the village of Baraga and Ontonagon County businesses and helps other businesses in the U.P. and bordering Wisconsin counties to get started as well.

To do business, the company compiles statistics for Michigan counties related to economic issues, like population and the percentage of people with bachelor’s degrees. Houghton has the highest percentage of people with bachelor’s degrees in the U.P.

“Houghton always surprises me,” said Dennis West, Northern Initiatives manager. “You’d think Michigan Tech would have more impact. How do you get those young people and graduate students to start businesses in Houghton?”

In an effort to grow the number of young people in the area, Northern Initiatives and other economic planners are taking a hard look at statistics to come up with answers. The numbers show Marquette and Keweenaw counties – the largest and smallest in the U.P. – are the only two that had modest population growth 2010 to 2015.

In addition to the majority of counties losing people, most of the residents who stay are older and therefore not having children, compounding the population decline now and into the future.

“The other challenge related to that is (in) rural areas, it’s hard to find two well-paying jobs,” West said, explaining spouses who can’t find meaningful employment may be the reason some top-earners leave the area.

“(The spouse’s job) doesn’t have to be great paying, but it could at least be challenging,” he said.

Connectivity could be part of the answer to not only keeping people here, but attracting newcomers as well.

“The extent that they can use the internet and Wi-Fi will give them an edge,” West said. “Internet and Wi-Fi are extraordinarily important to area businesses.”

Since 1994, Northern Initiatives provided $52 million for 903 loans to regional small businesses to spur economic growth. In the U.P. alone, 660 of those loans totaled $37 million, although they weren’t all from RLFs.

The village of Baraga and Ontonagon County are two of 12 regional revolving funds in the U.P. currently administered by Northern Initiatives. The other 10 are in Iron County, Spalding Township, Kingsford, Baldwin Township, Gladstone, Escanaba, Ironwood, Luce County, Marquette County and Menominee.

“The first time the loan has to be used in the community where (the money) came from,” West said. After that, he said the money is pooled for potential use in other communities.

Local governments apply for the RLF money from Community Development Block Grants from the U.S. Department of Housing and Urban Development. One full time equivalent job must be created for every $20,000 loaned.

West said the work so many have done to shore up the regional economy could yield some great opportunities.

“Some positive things are happening that we could possibility capitalize on,” West said.

Northern Initiatives is located in the Northern Michigan University Jacobetti Complex at 1401 Presque Isle Avenue, Marquette, Mich. 49855. Call 906-228-5571 for more information.