GEODC: Greater Eastern Oregon Development Corp.:

 (THE FOLLOWING INFORMATION TAKEN FROM THE GEODE WEBSITE)

 Did you know GEODC serves Gilliam, Grant, Harney, Malheur, Morrow, Umatilla and Wheeler counties? We are one of the largest "economic development districts" in the nation, per land base, and proud of it! We are a regional membership organization charged with supporting job creation by helping to create, retain and expand businesses. In addition, we provide support to local government to develop human and physical infrastructure to support the economic growth of our communities.

Each county has a board representative for GEODC .

The Business Loan Center

 GEODC has been making loans to small businesses since 1982. Assistance is provided to a variety of business types. Everything from manufacturing, wholesaling, retail, service and even those businesses that get started at home or in a garage. GEODC will finance start-ups, expansions and business purchases as well. GEODC staff sees inquiries from people for all kinds of business ideas.

 

Ninety-five percent of the projects funded through GEODC are in partnership with other Lending institutions. In other words, GEODC's financing cannot replace financing that could otherwise be obtained by the local bank. Often times GEODC's involvement in a project will help the business owner lessen the amount of equity needed to fund a project. While every project is different, business owners can get an idea of the requirements by calling GEODC's loan officer and talking about the project.

Individuals interested in knowing more about GEODC's loan programs can go to the website, www.geodc.net to download the checklist and loan application for funding or call Rex Baker at (541)276-6745.

 

New EDA Reauthorization Bill Passes

On April 8, 2011, the Senate Committee on Environment and Public Works introduced legislation (S 782) reauthorizing the Economic Development Administration (EDA) for five years. Provisions in the bill included federal-local rates for projects and programs; establishing in statute the roles and responsibilities of EDDs; and increasing funding for the planning program.

Did you know that GEODC was a federally recognized Economic Development District (EDD)? Each year the organization applies for planning grant funding. These dollars are used to create a Comprehensive Economic Development Strategy (CEDS) which brings community likenesses and barriers into a regional document that may help access funding for projects.

 

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