JSDC board approves Flex PACE interest buydown for i3G Media

The familiar crackle of local radio, the steady hum of a manufacturing plant – these are the sounds of Jamestown, North Dakota, and they represent a livelihood for many families in our community. Just this week, those sounds received a boost thanks to the Jamestown/Stutsman Development Corp. (JSDC), which unanimously approved measures designed to support local businesses and continued economic vitality. The news underscores the importance of fostering a climate where homegrown enterprises can thrive, creating opportunities for our neighbors and strengthening the foundation of our community – a cornerstone of the American dream.

i3G Media Acquisition: Securing Local Radio’s Future

The JSDC’s most significant action this week centered on a Flex PACE interest buydown, totaling approximately $54,000, to finance i3G Media's purchase of Chesterman Communications. This isn't just a business transaction; it’s about preserving the voice of Jamestown and the surrounding region. Chesterman Communications owns KSJB (600 AM), KSJZ (“Mix 93.3” FM) and translator K261FC (100.1 FM), stations that provide vital local news, information, and entertainment to our residents. i3G Media, headquartered in Valley City, North Dakota, already has a presence in Jamestown, Fargo, Wahpeton, Carrington and Oakes, expanding its reach and impact across the region.

“We are just waiting for the FCC approval to get this to the finish line,” Tallie Colville, CEO of i3G Media, stated succinctly. The financial assistance from JSDC represents a crucial step in finalizing the acquisition, with Jamestown’s share of the cost at more than $43,100 and Stutsman County’s portion approximately $10,800. This support demonstrates a commitment to keeping local radio locally owned, resisting the temptation of being absorbed by larger corporations outside our area – a critical factor in maintaining community identity and connection. The Federal Communications Commission will play a vital role in approving this transaction.

Reagan Ingstad Nemitz, president of programming for i3G Media, highlighted the importance of local coverage, while Robert “Jack” Ingstad, who handles operations with i3G Media, emphasized the expanded advertising opportunities this acquisition will provide. This means more businesses can reach more customers, fostering a stronger local economy and providing valuable resources for families looking to build their dreams here in Jamestown. The continued ownership of these stations is a testament to the spirit of entrepreneurship and community investment that defines our region.

Community Benefits and Local Voices

The acquisition of Chesterman Communications isn’t merely about business; it's about preserving the local voice and ensuring continued community connection. Maintaining local ownership is paramount, as it guarantees that the stations remain responsive to the needs and concerns of Jamestown residents. The expanded advertising reach also benefits local businesses, providing them with a platform to connect with potential customers and contribute to the economic health of our town. This investment in local media reinforces the importance of informed citizenry and community engagement – cornerstones of a vibrant democracy.

“We're really excited to keep doing some of the local coverage that we do in Chesterman or keep the stations that Chesterman owns locally owned and not absorbed by a big corporation outside of this area,” said Robert “Jack” Ingstad. These words resonate deeply within our community, reminding us that small businesses and local institutions are the bedrock of our shared identity.

Goodrich Corp. Building Sale: A Legacy of Growth

Beyond the radio acquisition, the JSDC also approved the sale of a building at 1805 13th St. NE in Jamestown to Goodrich Corp. for $400,000. This building currently houses a Collins Aerospace plant and represents a significant chapter in Jamestown’s industrial history. The Jamestown/Stutsman Development Corp. initially leased the building to Goodrich Corp. back in 2004, with the lease extended six times over the years.

Corry Shevlin, CEO of the JSDC, explained that the organization purchased the building in the early 2000s from Dynamics Marketing and that the land is leased by the Jamestown Regional Airport Authority. “The last extension agreement offered Goodrich the building for a purchase price of $400,000,” Shevlin said. The sale honors that agreement and represents a positive outcome for both JSDC and Goodrich Corp., showcasing the power of long-term planning and commitment to economic development. The Jamestown Regional Airport Authority will need to take action to finalize the sale, waiving their right of first refusal and addressing the existing land lease.

What's Next: Final Approvals and Continued Growth

The i3G Media acquisition now awaits final approval from the Federal Communications Commission (FCC). Once that hurdle is cleared, the Jamestown City Council and Stutsman County Commission will also need to give their formal endorsement. While these approvals are expected, they represent the final steps in securing a future for local radio in Jamestown.

For the Goodrich Corp. building sale, action from the Jamestown Regional Airport Authority is necessary before the transaction can be fully completed. Mayor Katie Hemmer noted that this is a standard procedure and anticipated a smooth process. “We have to waive a right of first refusal from the Airport Authority board, pretty common that that would happen, so they'll take that action,” she said.

Looking ahead, the Jamestown/Stutsman Development Corp. will continue to play a vital role in fostering economic growth and supporting local businesses. Their commitment to strategic investments and partnerships demonstrates a dedication to the long-term prosperity of our community. The Stutsman County Commission and the Jamestown City Council are key partners in this process, working together to create a thriving environment for all residents. The JSDC website provides more information about their initiatives.

The recent decisions by the Jamestown/Stutsman Development Corp. board are a reminder that when we invest in our community, we invest in our future – a future filled with opportunity, connection, and the enduring strength of the American dream. It’s a privilege to witness these moments of progress and to share them with you, our neighbors, as we navigate the path forward together.

The State of North Dakota offers various resources for businesses and residents seeking to invest in the state’s future. Collins Aerospace remains a valuable employer in our region. The Jamestown Chamber of Commerce is a resource for local businesses. North Dakota State University offers programs supporting entrepreneurship and economic development. Jamestown High School prepares the next generation for success in our community and beyond. The University of Jamestown contributes to the intellectual and cultural vitality of our region.