TABLE OF CONTENTS
A Message from Amber
As we reflect on 2025, I am filled with gratitude and pride for what our region has accomplished together.
This year has been one of meaningful progress and measurable impact for Lake Agassiz Development Group. Through strong partnerships, strategic investments, and a shared commitment to growth, we took a new step into housing development, added an Energy Efficiency Revolving loan fund to our growing portfolio of financing tools and began assisting business owners applying to USDA’s Rural Energy for America Program.
None of this progress happens in isolation. It is the result of collaboration among local leaders, private-sector partners, and dedicated community advocates who believe in the future of our region and our state. I am especially grateful for the continued support from our state partners. A new direct investment from the State of North Dakota has been instrumental in helping us accelerate key projects, leverage additional investment, and provide support to our area.
In 2025, we celebrated new business expansions, supported entrepreneurs, advanced infrastructure conversations, and deepened regional cooperation. These successes reflect not just economic development, but community development — creating places where people want to build their futures.
Thank you to our partners, elected officials, and community champions for your trust and support throughout 2025. We look forward to continuing this important work with you in the year ahead.
With appreciation, Amber Metz
Welcome to the Lake Agassiz Development Group’s 2025 Annual Report. In the pages ahead, you’ll learn about two North Dakota businesses that have grown with support from LADG, explore highlights from our history, and review this year’s financial performance. We’re proud to share the progress we’ve made together in 2025 and invite you to take a closer look at the impact of our work.
MEET THE TEAM
GREENWORX HYDROSEEDING: STREAMLINING GROWTH, INCREASING PRODUCTIVITY
How the right equipment and financing helped a local business elevate service
For small business owners, efficiency is often the difference between keeping up and getting ahead. For Adam Erickson, owner of GreenWorx Hydroseeding in the Bismarck-Mandan area, the right equipment — funded with help from the Lake Agassiz Development Group (LADG) — transformed the way he runs his business.
Multiple Trips and Extra Wear
Erickson started GreenWorx Hydroseeding two and a half years ago, building a company focused on high-quality seeding methods, dirt work, and erosion control. Before LADG’s support, the day-to-day operation relied on trailers pulled by a pickup truck.
“Depending on where I had trailers with different pieces of equipment, I’d have to run around town to go to one place or run to my shop multiple times to move stuff around,”
Erickson shares. “I was using at least three times the amount of fuel I needed and putting way more wear and tear on the pickup than necessary.”
These inefficiencies slowed workflow, limited the size of jobs he could take on, and made managing projects more physically demanding. Scaling the business or expanding service areas was difficult without a more efficient setup.
Providing a Simple Process
Erickson turned to LADG for funding to purchase a new service truck designed to carry all the equipment needed for hydroseeding in a single trip. “LADG made [the process] super easy,” Erickson recalls. “They walked me through every step, met me where I was, and really went above and beyond to make sure everything was in place.”
The process was straightforward and communication was quick and consistent, reflecting LADG’s hands-on approach to small business support. Erickson emphasizes that the experience was transparent and seamless. “They’re upfront about everything, and the quick turnaround is huge for people like me looking at equipment that can sell fast,” he says.
A Truck That Changed the Business
The new service truck has fundamentally changed how GreenWorx Hydroseeding operates. Erickson can now carry all necessary tools, spare parts, materials, and the hydroseeder in a single vehicle. Jobs that once took half a day of moving trailers now happen in one trip, increasing efficiency and productivity.
The vehicle has also sped up productivity, allowing Erickson to carry more water and materials at once. “It’s doubled what I’m able to do. I can take on bigger jobs and work more efficiently, even when I’m operating solo,” he explains.
“They made [the process] super easy. They walked me through every step, met me where I was, and really went above and beyond to make sure everything was in place.”
Adam Erickson
Expanding Reach and Customer Service
Beyond efficiency, the truck supports GreenWorx Hydroseeding’s focus on quality and customer service. Erickson notes, “Having a truck like that shows that we’re a serious business with professional, quality equipment. I can hold and carry more product, which means better coverage and application rates for customers, and I don’t have to worry about running short.”
The larger truck also boosted the company’s visibility. With its size and branding, it now serves as a mobile billboard, catching the attention of potential clients wherever it goes. “It’s definitely more of an attentiongetter,” Erickson says. “More people notice my company, which is good for business.”
Mobile signage makes it easier for new clients to notice the business, expanding potential reach. Since receiving the truck, Erickson estimates he has tripled the size of his operation, with projects stretching well beyond Bismarck-Mandan to a 150-mile radius.
LADG: A Partner in Growth
From structured financing to personalized guidance, Erickson experienced firsthand how LADG can make a complex process simple and effective.
“Nothing but positives to say from my experience,” Erickson shares. “They made it super easy. If someone’s looking to find a funding partner, I always send them toward LADG.”
For a veteran-owned company like GreenWorx Hydroseeding, professionalism and reliability are core values. LADG’s
It’s doubled what I’m able to do. I can take on bigger jobs and work more efficiently, even when I’m operating solo.
Adam Erickson
support has allowed Erickson to uphold these standards while growing operations, delivering excellent service and broadening the company’s reach.
A Platform for Future Success
The addition of the new service truck is more than just a vehicle, it’s a platform for sustainable growth. GreenWorx Hydroseeding can now handle larger projects efficiently, provide better customer service, and maintain the high quality of work Erickson prioritizes.
With LADG’s support, Erickson has built a more efficient, professional, and visible operation that sets the stage for continued expansion. The partnership demonstrates how the right financing, paired with practical guidance, can empower a small business to grow, innovate, and thrive in a competitive market.
FIVE STAR DAIRY: MILKING DATA TO DRIVE THE FUTURE
How a strategic loan and robotic technology are transforming a Midwest dairy farm
Samantha Penberthy (CFO) notes, “We had good systems for our scale, but we were missing the real-time data that could have taken us further. It was hard to plan for growth or respond quickly to challenges.”
The team knew that achieving their longterm vision, including robotics and improved efficiency, would require both capital and guidance, which is where LADG stepped in.
Turning Vision into Reality
With an SBA 504 loan through LADG, Five Star Dairy was able to renovate their barns and invest in robotic milking equipment. The SBA 504 program provides long-term, fixed-rate financing for major investments in property or equipment, designed to help expanding small businesses thrive.
“They were rock stars,” Penberthy says. “They were right there alongside us through every step. Their support made such a large project possible and kept it on track.”
Millner echoes the sentiment: “They took a hard project and really dug into it to get it done for us. We owe our existence to the help we got from them.”
The partnership reflects LADG’s mission: helping small businesses grow, modernize, and support their communities. For Five Star Dairy, it meant the difference between staying conventional or stepping confidently into the future.
A New Era of Operations
Access to the right capital can make all the difference for a small business with big ambitions. For Five Star Dairy, that opportunity came through the Lake Agassiz Development Group (LADG).
Before this partnership, operations were entirely conventional. Cows were milked by hand, data on milk quality arrived weeks later, and managing a herd of 1,600 was physically demanding and stressful. Managers often didn’t see the data until weeks later, and improvements were limited by the slow flow of information.
Rick Millner (CEO) shares: “We always wanted more data, more insight into what was happening with the cows. But back then, it just wasn’t available.”
The Challenge of Scaling Operations
Running a dairy of this size requires balancing animal care, staffing, and production. Every decision depended on delayed information, making it difficult to optimize feeding, cow health, and milk quality.
“They were rock stars. They were right there alongside us through every step. Their support made such a large project possible and kept it on track.”
Samantha Penberthy, CFO
The upgrade was transformative. Robots now handle the milking process, allowing cows to move and feed on their own schedule. The team has immediate access to production, health, and feeding data, enabling real-time decisions and more precise herd management.
Millner describes the impact: “The amount of data we have now is incredible. We can see what the cows are producing, what they’re eating, and how they’re doing all in real time.”
Pablo Cortes (operations manager) adds, “It’s changed how we manage day-to-day operations and opened up possibilities we never imagined.”
Guiding Every Step
Transforming a conventional dairy into a high-tech operation was a complex project, but LADG was there at every stage. From structuring the loan to helping with energy audits and environmental assessments, the team made the process manageable.
The post-loan transformation has improved production, efficiency, and animal welfare. Cows remain in their preferred pens, socializing naturally and lowering stress levels. Managers can make immediate adjustments to feeding, health monitoring, and overall herd care — all while increasing output.
Penberthy shares, “It feels like we’re moving toward our future.”
Stepping Up in the Dairy World
Thanks to LADG and the SBA 504 loan, Five Star Dairy has achieved a transformation that benefits both the business and its animals. Real-time data, robotic operations, and modernized barns have taken the farm to a new level, setting a standard for modern dairy farming in the Midwest.
By creating a partnership with a hands-on approach, LADG helped this local business grow, innovate, and thrive — demonstrating how strategic support can help North Dakota businesses step confidently into the future.
SMALL BUSINESS LENDING 2025
As part of its mission to foster economic development and entrepreneurship, LADG administers seven different loan programs sponsored by four different federal agencies and one county. Three of the loan programs are available statewide in North Dakota; four are available on a local or regional basis; two have been extended to cover western Minnesota. With this suite of programs, LADG can fund loan requests from $500 to $5.5 million. For all of the programs, awpplicants must be unable to obtain financing, in full or in part, from a bank or credit union. Often, the LADG’s loans are used as a gap financing tool in cooperation with a financial institution.
PORTFOLIO SUMMARY
As of December 31, 2025 the loan portfolio being serviced by LADG
417 Main Ave, Fargo, ND 58103
(701) 235-1197
LADG BOARD MEMBERS
LAKE
AGASSIZ REGIONAL DEVELOPMENT CORPORATION
Rick Mairs, President Ransom County
Lisa Rotvold, Treasurer Traill County
Robert Wurl, Secretary Richland County
Larry Jacobsen, Vice President Steele County
Jason Arth
Sargent County
LAKE AGASSIZ REGIONAL COUNCIL
Thomas E. Jefferson
Minority Representative
Duayne Baldwin
Treasurer Sargent County Soil
Conservation District
Terry Hoffman
Cass County Soil
Conservation District
Michael Haverland
Richland County
Soil Conservation District
Nathan Berseth Chairman Richland County
LAKE
AGASSIZ CERTIFIED DEVELOPMENT COMPANY
Mike Bannach, President Fargo
Dan Delahoyde, Secretary Cogswell
Justin Neppl, Treasurer Breckenridge
Carey Fry
Secretary Job Service North Dakota
Kurt Elliott Chairman Traill County
Brian Tuite
City of Finley
Terry Hoffmann Cass County
Kevin Bunn City of Enderlin
Mark Osland
Traill County Soil
Conservation District
Landon Poss Fargo
Rick Steckler Wahpeton
Scott Schultz Grand Forks
Michael Gust Fargo
Kelsey Smith Fargo
Perry Brown
Steele County
Todd Anderson
Ransom County
Jeff Lyons
Ransom County Soil
Conservation District
Wade Anderson Sargent County
Jake Klobuchar, Vice President Fargo
Troy Ott West Fargo