Iron Mountain’s Downtown Development Authority wants to hear what you’ve got in mind — and potentially help it become a reality.

The DDA on Tuesday announced the Business IDEA Contest, a new competition that launches Monday.

“Serious entrepreneurs” ready to take a business to the next level will have a shot at winning space in a vacant commercial property, rent-free, for up to one year.

The goal is to promote economic growth downtown by bringing in new businesses and filling open spaces, while also giving entrepreneurs assistance in starting their new business. “Ideally, these new business owners will eventually turn into paying tenants,” DDA stated on its website.

A VIEW OF ONE of the vacant storefronts in downtown Iron Mountain. (Theresa Proudfit/Daily News photo)

“Oftentimes, New Year’s resolutions include finally taking the plunge in starting a business, and we are excited to see what business ideas come into the contest,” said Amber Pipp, DDA program director.

Business IDEA Contest applications will be reviewed and voted on by the DDA’s Business Development Committee. Multiple winners may be chosen, depending on how many spaces are available and the quality of the concept.

The “first place” winner will be given first choice of available spaces, “and on down the line, until all spaces are filled,” the DDA stated on its website.

Though thriving, downtown Iron Mountain does have enough open storefronts and offices to accommodate more business.

“There is a vacancy rate of approximately 10% in commercial properties, and we hope this contest may be able to assist in filling these vacancies, and hopefully result in long-term business tenants,” Pipp said.

The DDA also encourages downtown property owners who might be interested in offering a vacant space in the contest to sign up under the “Do Business” tab on the DDA website at www.downtownironmountain.com.

The contest will open for applications until mid-February. For more information on contest details or how to sign up, go to www.downtownironmountain.com/business.