EDA Packet 51117 - Laserfiche WebLink

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various situations including individual business meetings, marketing events and other settings to highlight the opportunities that exist within each community in Washington County. Each city/township can have their own paragraph, page or section of the Economic Development Plan and all marketing materials. Washington County CDA staff will assist with drafting/creation of this information and marketing materials upon request of the individual cities and townships. This will be an ongoing activity beginning in the first quarter of 2017 and may be revised and/or updated at any time at the discretion of the cities and townships. Economic Development Partnerships and Financial Incentives: Action Step: Help small businesses grow. Deliverables: Washington County can support existing small businesses and encourage new entrepreneurism by joining the Metropolitan Consortium of Community Developers' (MCCD) Open to Business program. The purpose of the Open to Business program is twofold: 1) to provide small businesses within Washington County direct access to subordinated financing (business loans), and 2) to provide one-on-one professional business consulting services to small businesses within the county at no cost to the business. The professional business consulting services include business plan development and financial proforma development including cash flow management analysis for entrepreneurs. The direct business loans offered through the Open to Business program are intended to spur commercial and industrial business development opportunities in Washington County. Business loans are available to both start-up and existing businesses and are available for a variety of uses including; building improvements, acquisition of property, equipment, inventory and working capital. The Washington County CDA will coordinate the Open to Business program on behalf of the communities and will seek the necessary funding required to join. This program will begin as soon as possible in 2017 and will be ongoing. Action Step: Utilize Community Development Block Grant funds for business loans Deliverables: The Washington County CDA will use federal Community Development Block Grant monies for up to 3 small business loans for a total amount not to exceed $25,000 in CDBG funds over a three-year period. This activity will begin in the third quarter of 2017 and be ongoing. Action Step: Capitalize a county -wide commercial building revolving loan program. Deliverables: The Washington County CDA will explore options to fund commercial building and improvements. The county -wide commercial building revolving loan program will begin in 2018 or sooner if funding becomes available.