91³Ô¹ÏÍø

91³Ô¹ÏÍø University business student Jacob McNab reflects on his transformative summer internship with the Northeast Public Development Authority (NEPDA). Through this experience, Jacob had the chance to give back to Spokane — a city that has shaped his identity — by contributing to impactful economic development projects in the Hillyard area. Read his full reflection below.

My community and home mean the world to me. Spokane has brought me joy and opportunity, from the wonderful city and nature areas to the fun activities like Bloomsday and Hoopfest, I knew I had to give back to the place that helped me establish my identity. This summer, I had the chance to impact my community in a way I never thought was possible. Before I jump into my summer internship experience, I’d like to thank 91³Ô¹ÏÍø’s School of Business Administration and Mozilo Chair of Business Dr. Xu for their support, as well as thank the Mozilo family for the opportunity to contribute to and grow the city of Spokane. Thanks to the Mozilo family and 91³Ô¹ÏÍø University, I had the chance to create a lasting impact on my community guided by the Jesuit values that have been instilled in me through my college education.

Before I get into the details of the internship I did with the Northeast Public Development Authority, I want to share a bit about myself. My name is Jacob McNab, and I am from Westminster, Colorado. I am currently studying to obtain a Bachelor of Business Administration with a concentration in finance, a Bachelor of Arts in economics, and a minor in statistics during my four years at 91³Ô¹ÏÍø University. I’m heavily involved in various organizations and clubs, including Collegiate DECA, which I am the current president of after winning first overall in my event at DECA’s International Career and Development Conference. I’m ready to start my major-related classes for my junior year, and outside of school, I can be found hiking, fishing, and playing intramural sports.

The (NEPDA), also known as Make It Spokane, is the company I interned for this past summer. The NEPDA is led by Jesse Bank and is focusing on bringing economic viability and development to the greater Hillyard area. The NEPDA focuses on the construction, development, and redevelopment of public benefit projects, which aims to bring job expansion as well as economic growth within the area. They are accomplishing this task through a couple different ways, the first of which is by creating their own development and construction projects and turning them into a reality. The NEPDA also connects business owners and developers to opportunities and incentives while helping out through the approval of different processes, serving as a “concierge consultant” for these projects and businesses. As of recent, the Northeast Public Development Authority is planning on building an apartment complex with a childcare center near the intersection of Wellesley and Market Street. This project addresses the vital needs of housing and childcare in the Spokane community, and on top of that, it will create job opportunities and economic growth.

Over the summer, I was tasked with creating a model to display the financials of this construction project. I worked on a complex Excel model that helped determine whether the project should be pursued, as well as the expected value and profit of the project. To accomplish this, I forecasted out the revenues and expenses, created bond and loan amortization schedules, formed a loan drawdown schedule and more, all of which could be adjusted for different scenarios by changing the key drivers of the model. This model improved my understanding of financial concepts, and it was cool to see how I could utilize my college learning to build the project. On top of that, I would participate in meetings with Jesse where we would go over how the project is developing as well as feedback for the model. Receiving feedback and participating directly in such an important process developed my understanding of the impact and need for the project and showed me just how much it means to the community. I am incredibly thankful to have been under the mentorship and leadership of Jesse, who guided me through the project while working to bring the construction project to life.

Although I am thrilled with my work and the model, I am the proudest of the impact I made on the Spokane community. It brings me joy to know that my work has the potential to help the Hillyard area flourish. Not only was I able to apply what I have learned in college to the working world, but I was able to make an impactful difference on a community I care deeply about. As I continue to progress through my education and career, I am ecstatic to see how Jesse Bank and the Northeast Public Development Authority will continue to provide awesome opportunities to help Spokane thrive. As for myself, I am thankful for the experience and ability to make a positive change within my community. As I progress through my education and career, I plan on continuing to support the places I care about, and this goal all started with the opportunity I received with the Northeast Public Development this summer.