BAXTER — Economic opportunities are out there even in challenging times.

That was one of the messages at the Brainerd Lakes Area Economic Development Corp. annual meeting Monday. About 170 people gathered at The Lodge at Brainerd Lakes in Baxter for the session.

“Economic development and job creation is at the forefront of everyone’s mind,” said Sheila Haverkamp, BLAEDC executive director.

The session highlighted BLAEDC activities, area success stories and featured speaker Charles Etzweiler, director of research at Nepsis Capital Management of Minneapolis.

The Brainerd lakes area is fortunate to have several technology businesses in the area and Haverkamp said BLAEDC wants to build on that industry cluster for the future. An example of the kind of businesses the sector includes is Glynlyon, which recently hired about 20 people who started their jobs Monday in Nisswa. Haverkamp said efforts are being made to encourage technology infrastructure and attract businesses like data centers to the area.

Another BLAEDC effort involves working with entrepreneurs and developing future leaders there as young people are engaged in entrepreneurial activities as students, which Haverkamp said was planting the seed for the future. Other BLAEDC efforts with entrepreneurs are aimed at helping a concept reach success to grow jobs here and create wealth in the community.

Speakers sharing local success stories included Steve Christenson, executive vice president at Ascensus, Jason Przymus at Deerwood Technologies and Darcy Harbott at EPI in Baxter.

Harbott may be the example of youthful entrepreneurship. He grew up in Thief River Falls. In 1981, as a community college student, he bought a house when he found he could own a home for a cheaper price than he could rent. The area’s economy was devastated after the closure of Arctic Cat. The house cost $5,000 and had a house payment of $84 a month. Harbott added a roommate and charged $175 in rent per month. He then purchased more real estate in Thief River Falls and later bought into a young Subway restaurant chain. Years later, when Harbott was ready for a change, a friend introduced him to Kevin and Chris Close and he found an opportunity to buy EPI in Baxter’s Industrial Park.

The company provides parts, such as clutch kits, suspension parts and wheelshafts, to equipment manufacturers in the U.S., Canada and 39 other countries. Their equipment is used in snowmobiles and golf carts.

The company employs 15 people.

Harbott said revenues from sales come back to the Brainerd lakes area to grow EPI and he’s looking to purchase another business and bring it here. When he first came to the area, Harbott said everything was so expensive. Now there are buying opportunities on many fronts.

“We have a fabulous opportunity now that I don’t think anybody in this room will see again in our lifetime,” Harbott said. “I can tell you right now the opportunities to buy here are wonderful.”

When he looked at adding five jobs, Harbott said 100 people applied.

“The quality of people who walked in and filled out applications really impressed me,” he said.

Harbott said he’s also looking at the possibility of moving manufacturing jobs here.

One BLAEDC initiative to help businesses and grow jobs in the region to better the community is working with retired executives from companies such as Standard Oil, Target, 3M, Schwan’s, IBM and others. Tom Anderson, BLAEDC past president, said: “We have a tremendous resource here we really need to tap into.”

Etzweiler spoke about the national and global perspective on economic recovery and history’s view of this recession and previous economic turmoil. Etzweiler said there are opportunities out there, but it’s a matter of matching investment goals to the right markets. International markets with growth include Korea, Indonesia, Bangladesh, Vietnam, Philippines, South Africa and Nigeria, among others. Etzweiler said investors make decisions on emotions and when people are less optimistic about the future, they are less likely to put money into a risk.

RENEE RICHARDSON may be reached at 855-5852 or renee.richardson@brainerddispatch.com.