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City could do worse than bet on technology jobs

Minot is being asked to loan $375,000 to a company that hopes to create new jobs in Minot while serving existing markets and saving money for those local accounts.

Sounds better than OK. But can Minot, some will wonder, afford to be making loans with risk involved considering current fiscal realities?

As we reported Saturday, Minot Area Development Corp. is requesting $375,100 in a forgivable loan from the MAGIC Fund to help an unmanned aviation company based in Grand Forks launch its operations in Minot.

The money would go toward establishing SkySkopes’ Bakken office in Minot, with the stipulation that at least 15 jobs would be created within three years. SkySkopes also would be required to provide proof of raising $500,000 in equity before disbursement of any MAGIC Fund dollars.

That decision could come as early as this Friday when the MAGIC Fund screening committee is scheduled to meet. City Council would have the final say, though.

Minot has a long history of helping new companies get a leg up, and there have been both wise investments and foolish investments made.

What is notable about SkySkopes, but certainly not unique, is that cutting edge technology is involved. The commercial use of drones is really just beginning, so who knows how far the company can go or what similar or related businesses might be attracted to Minot if SkySkopes is treated right and finds success here.

Other cities, especially Grand Forks with its university heavily involved, are cashing in on drone jobs now, having become believers years ago. Could Minot have a small piece of that and then perhaps parlay it into something greater?

Maybe. But enough dreaming, not that dreaming is bad.

As stated, it will be up to our city council to approve any loan for SkySkopes that the screening committee might advance. We trust that both the council and MADC will check them out thoroughly. While “just” $375,000 is on the line, so might be a new generation of jobs.

Minot could do – heck, we have done – worse.

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