Broken Bow Economic Development Shines even in Recession
Gov. Dave Heineman greets Prairie Grounds Cafe and Gifts owners Tom and Bob Myers Friday during a tour of recent economic development activity in Broken Bow. The Myerses opened the coffee and gift shop last fall. (Independent/Scott Kingsley)
The Custer County town of 3,400 seems to be doing well in the middle of a state that is already considered nationally to be the third-most financially fit in the nation. Four ribbon cuttings attended by Gov. Dave Heineman Friday are proof of that. Ribbons were cut at a movie theater, bank, coffee shop and accounting office.
"This community cares about itself," Heineman said about Broken Bow. "It has continued to grow economically and that's what's important."
Community leaders attribute Broken Bow's economic health to its location -- far enough away from the larger cities to be a small retail hub of its own for the farmers and ranchers who don't want to drive another 65, 70, or 80 miles to Kearney, North Platte or Grand Island.
"We have a good trade area," said Jim Scott, treasurer of the Custer Economic Development Corp. and vice president of the Bank of Broken Bow. "We are close to the Sandhills and we get good support from the ranchers and farmers to the west and north of us. We're kind of the Kearney/Grand Island to a lot of those people."
Stuart Fox, owner of two Broken Bow businesses and vice president of the Custer Economic Development Corp., said obviously Broken Bow is not as large of a trade center as Kearney or Grand Island, but its location farther from those larger towns gives it an advantage over towns its size such as Holdrege or Cozad.
"We have a little better retail climate here because it is a little further to drive to the city," he said, citing Holdrege as a town that he believes has trouble keeping shoppers from going the 30 miles to a larger town.
Scott said his town has seen growth during the past five years, and the recession doesn't seem to have slowed it much.
"For the last five years we've seen more of the business buildings full. Especially around the square, every one of those buildings is full, whereas in years past there has always been a couple three buildings empty," he said.
Broken Bow officially opens four to 10 businesses a year at its annual ribbon cutting celebration. Broken Bow Chamber of Commerce Executive Director Denise Russell said the number of new businesses opening hit a peak two years ago when several businesses reopened after losing their building on the south side of The Square to fire.
Scott also praised the existing business owners for stepping up and helping new businesses succeed. He explained that the economic development board has been paid for by current business owners.
"If it's funded by your own dollars, you take a little more pride in it, you take a little more interest in it," he said. "So we have a lot of community leaders that have helped the new business owners."
Scott said that bringing the governor to town for the annual ribbon-cutting event adds some excitement to it.
"It's good to celebrate these type of events because it puts us on the map and makes people aware of Broken Bow," Scott said of bringing the governor in for the ribbon cuttings. "These businesses have made significant investments in our community and we feel we need to celebrate that."
On Friday business leaders joined Heineman to recognize completion of major renovations of the existing movie theater and a bank, a new owner of a coffee shop and a new building for a longtime accounting firm. A new family-owned bakery also had its soft opening this week.
The Tiffany Theater celebrated completion of the latest phase of its major renovation.
Stuart Fox, co-owner and president of the theater, said the theater renovation project started because he felt Broken Bow deserved a movie theater every bit as nice as one found in Lincoln or Omaha.
"I thought we were an underserved market," he said. "I saw other communities that had two-screen theaters that were open all the time, and I thought, if they can do it, why can't we?"
The first renovation was to add offices to the upper floor of the theater, then two years ago the front entrance and concessions area was remodeled. In November of 2008, a second screen was added upstairs.
Then in May last year, he and his business partner, Andrew Solomon, made a "huge investment" and decided to convert the theater to digital and 3-D. Fox said it had been getting difficult to book current movies because some were only available in digital format.
The latest change was in the downstairs theater, where they "gutted it and built stadium seating."
Fox, a native of Broken Bow, said he wasn't concerned with the economy. He just wanted to give back to the community.
"We feel it is important that we grow these rural communities and give people here the same opportunities they have in other communities," he said. "We are not really in a competitive market here where there is no theaters for 60 miles. But we don't want people to come here just because it's the only theater. We want to earn their business."
Fox, who is also president of Nebraska National Bank in Broken Bow that also had a renovation ribbon cutting Friday, said it was some of the same attitude behind the decision to expand there.
"We've grown quite a bit (at the bank). Central Nebraska really hasn't seen any major effects of the economy," Fox said. "We've continued to see strong loan growth. It's a different world here and we understand that."
He said that to honor the decision to keep the bank local, it means that the bank needs to set itself up for growth in the future.
"We had run out of room," Fox said, adding that the bank was able to expand to the east and then renovated the old part of its building.
Another one of those local families who decided to take a chance and invest in Broken Bow was the Myerses.
Local ranchers Tom and Barb Myers opened Prairie Grounds Cafe and Gifts last fall along state Highway 2 just off The Square in Broken Bow. It was formerly Twigs and Berries coffee shop and Barb Myers said she felt the town needed to keep a coffee shop.
Although she didn't have any small business ownership experience, she had a little retail experience and "knowledge as a very frequent customer," she added with a laugh.
"I felt (Broken Bow) needed a place to just hang out and gather together," Barb Myers said. "It's a typical coffee shop-type atmosphere."
Myers said the Small Business Administration and Grow Nebraska organizations helped her learn about business practices.
She said that business started a little slow but picked up once their sign was hung and people began to realize they were open.
However, she did feel nervous about how the recession would affect her new business.
"I was a little scared to start a new business in this economy," she said. "But the opportunity was there and we decided to go ahead and try it and the community has been very supportive."
The Dana F. Cole and Co. accounting firm has had an office in Broken Bow for some time but recently built a new building across the street from its old office. It was the fourth ribbon cutting Friday.
Learn more at: www.prairiegrounds.com
Story by: Amy Schweitzer of the Grand Island Independent
