FAIRMONT–The results from a recently conducted Martin County Business Survey laid out problems area businesses are facing to the Martin County Economic Development Authority (EDA) at its Monday meeting.

Community and Economic Development Associates Intern Macey Becker said overall there are 8,201 jobs in Martin County. Of all area workers, 48.6 percent are in the 30-54 range, and the Martin County median age is 44.5, five years older than the median statewide age of 39.

The survey received 21 respondents, with most common sectors being Food and Hospitality, Construction and Trades and Automotive. From them, Becker said two key area factors were identified.

“The most needed was loans and grants,” she said. “A lot of them said that. Workforce development and training and business advisory/consulting services were both in second.”

From five most identified needs, 43.5 percent said Loans and Grants, 17.4 percent said Workforce Development and Training, and 17.4 percent said Business Advisory/Consulting Services.

As for overarching challenges, Becker said economic pressures was the most common answer.

“Current economic downturns are affecting customers and businesses,” she said. “Rising cost of goods is leading to a decrease in profitability.”

Some challenges were more prevalent among specific businesses. Becker said the food and hospitality sector overwhelmingly indicated labor market issues are affecting its profitability.

“It’s hard to keep wages competitive while staying profitable due to rising costs,” she said. “Finding qualified and skilled workers for both part-time and full-time positions was a struggle that a lot of them were facing, along with retaining employees.”

Satisfaction level was another quantity measured, and one Fairmont didn’t measure up in. From Very Satisfied to Very Dissatisfied, the top answers were Neutral at 47.4 percent and Dissatisfied at 31.6 percent. Only 15.8 percent indicated they were Satisfied or Very Satisfied.

Board Member Tim Terfehr asked Becker how many responders were from Fairmont. Becker said 10, with the second most common place being Truman with four responses.

The report was not subject to approval or rejection but was taken under advisement by the EDA.

In other business:

— The Retail Coach is continuing talks with a broker and developer regarding a retail space at the Five Lakes Centre Mall. They are also beginning talks with a new food service interested in Fairmont, with The Retail Coach helping them find a location.

— The 504 Corporation was added to the EDA’s business funder partners. They finance commercial real estate and equipment purchases, as well as refinancing debt used to purchase either. Their loans finance up to 40 percent of costs which, combined with 50percent from bank financing, can finance 90 percent of total cost.

— The 2025 priority plan was approved, with discussion centering around the high priority rating of child care and potential funding of Lakeview Methodist’s Building Block’s Child Care Expansion. An agreement was had to keep the priority level high, but consensus on helping fund the expansion was not found.