Economic development ecia was designated in 1978 as a Regional Economic Development District

ECONOMIC DEVELOPMENT

• ECIA was designated in 1978 as a Regional Economic Development District

• ECIA Business Growth, Inc. was established in 1983

• Non-Profit Certified Development Corporation (CDC)
• Purpose to promote the expansion of area businesses and the creation of new jobs

ECONOMIC DEVELOPMENT Continued

• Board of Directors governs CDC

• ECIA provides staff and services

• Since 1983 $52,064,733 in loans approved

• 4,344 jobs created or retained

ECONOMIC DEVELOPMENT Continued

• ECIA Business Growth, Inc. operates business loan programs

• SBA 504 Program
• EDA-RLF and Regional IRP RLF
• Jackson County Revolving Loan Fund
• Dubuque County (IRP)

MARKETING RLFS

• IT STARTS WITH YOUR RLF PLAN

• I. Program Elements of the Plan

• Goals And Objectives
• Area's Financing Problems
• Targeting Criteria
• Standards for the RLF Portfolio
• Financing Policies
• Related activities (ex: Technical Assistance)

MARKETING RLFS

• IT STARTS WITH YOUR RLF PLAN

• II. Administrative Elements of the Plan

• Loan Administration Board
• Loan Selection and Approval Process
• Loan Servicing
• Sources to Cover Administrative Costs
• Recapitalization Strategy

MARKETING RLFS

• IT STARTS WITH YOUR RLF PLAN

• III. Other Requirements

• Non-Relocation
• Conflicts of Interest
• Civil Rights
• Environmental Considerations
• Amendments

MARKETING

• “Determining the right target audience is probably the most important part of your marketing efforts, because it doesn’t matter what you’re saying if you’re not saying it to the right people.”

MARKETING RLFS

• STEP 2: THE MARKETING PLAN

MARKETING RLFS

• STEP 2: THE MARKETING PLAN cont.

MARKETING RLFS

• STEP 3: IMPLEMENTATION and TIMELINE

MARKETING RLFS

• EDA REVOLVING LOAN FUND

• Intent is to provide gap financing for fixed asset expansion projects
• Goal is one FTE job created retained for each $100,000 provided within two years
• Funds targeted to manufacturing or service companies
• Leverage two private dollars to one RLF $
• Size $50,000 to $200,000
• Working capital is eligible
• Term is flexible, typically seven years
• Interest rate 4%-8%

MARKETING RLFS

• DUBUQUE COUNTY REVOLVING LOAN PROGRAM

• Project must be outside City of Dubuque
• Loans to manufacturers rather than retail or service
• Loans to E.D. Groups for Spec. Buildings, land
• Fixed asset loans (land, building, and equipment)
• Interest rate 4-8%
• One job for each $15,000 provided within two years of loan closing

MARKETING RLFS

• DUBUQUE COUNTY REVOLVINIG LOAN PROGRAM CONTINUED

• Starting wage of each job must be at 75% of the County average
• Max loan of $250,000
• Personal guarantees required
• Loans must be secured with mortgages or liens

MARKETING RLFS

• Jackson County Revolving Loan Fund

• Financing of fixed assets preferred (equipment)
• Fixed asset projects (land, building, equipment)
• Goal is one FTE job created or retained for each $50,000
• Funds targeted to manufacturing or service companies
• Limited strictly to projects within Jackson County
• Finance working capital only in unusual circumstances
• Term is 3-15 years
• Interest rate 4%-8%
• Personal guarantee usually required

MARKETING RLFS

• ECIA Regional Revolving Loan Fund

• Projects anywhere in the 5-County ECIA region, but must be outside Cities of Clinton, Dubuque
• Targets creation/retention of manufacturing jobs
• Goal to create/retain one job for each $100,000 lent
• Term is flexible, typically seven years
• Interest rate 4.5-8%
• Personal guarantees required

MARKETING RLFS

• STEP 3: IMPLEMENTATION TIMELINE cont.

MARKETING RLFS

• STEP 3: IMPLEMENTATION TIMELINE cont.

MARKETING RLFS

MARKETING RLFS

• STEP 3: IMPLEMENTATION TIMELINE cont.

MARKETING RLFS

MARKETING RLFS

MARKETING RLFS

• OTHER SERVICES

• ECIA Staff assists with grant writing and servicing expertise for such programs as:

• CEBA
• CDBG EDSA
• CDBG PFSA
• RISE
• TIF
• EDA Public Works

SUCCESS STORIES

SUCCESS STORIES

SUCCESS STORIES

SUCCESS STORIES

SUCCESS STORIES

SUCCESS STORIES

SUCCESS STORIES

SUCCESS STORIES

SUCCESS STORIES

• WWW.ECIA.ORG

• www.prosperityeasterniowa.org

• Phone [phone]