Financing Business Opportunity  






October 2015
In This Issue
New Loan Fund
Partner News
AEDC Annual Meeting
AEDC's Move
Lemonade Day
Partner News
Quick Links

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From the Executive Director
 
 
October is the month when we report to our members and the community about AEDC's current status financially and what we're working on in the community. It's that time of year when we reflect on how effective we were at pursuing our mission in the year prior. The meeting was well attended, and we were happy that we had plenty of good news to share. We had another finding-free audit. We continue to grow our assets. We loaned more money this year than last.
 
We were also able to share that this year AEDC had an opportunity to purchase a building. The Board of Directors, with some influence from staff and community input during the strategic planning process, decided it was time. We're the Arcata Economic Development Corporation but our reach has extended far beyond Arcata for years.  Our new location at 7th and K Streets in Eureka will make it easier for clients to find us, and we'll be more centrally located in Humboldt, continuing to keep a close partnership with the City of Arcata.  Eureka will be our zip code, but we don't plan to do a lot of sitting. Our best work is done outside of the office meeting with businesses in the community. We plan to move early next year. We'll keep you informed as the project moves forward. 

 
-Ross

AEDC News
bills_coins.jpg AEDC Receives 
$1 Million from USDA   
 
AEDC has been awarded $1 million from the United States Department of Agriculture (USDA) to be used as loan funds for businesses in AEDC's service region including Humboldt, Del Norte, Mendocino, Lake, Trinity and Siskiyou Counties. 
 
"The USDA's choice to provide the Arcata Economic Development fund with $1 million for small business loans will help the northern part of my congressional district strengthen and diversify its economy and workforce," said Rep. Jared Huffman (D-San Rafael). "Supporting small businesses is an investment in the future, and I commend USDA for recognizing the needs and opportunities that exist in the region."
 
The award was part of $12.5 million in loans and grants for projects to help rural businesses in 21 states and the Commonwealth of Puerto Rico- AEDC is the only agency in California to receive the funds.
 
"Loan funds are not always readily available to small business owners from traditional sources," said Ross Welch, executive director of AEDC. "In a region like ours where small businesses are filling the hole left by large resource-based industries, help for small business owners allows us to build a stronger economy."
 
 
AEDC has been lending business funds through the USDA since receiving their first award in 1991 for $500,000. Those funds are borrowed by AEDC at a low interest, then lent out to support local business endeavors.  Since their first award, AEDC has loaned $4.45 million in USDA funds to regional businesses.  

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Partner News  

Humboldt  County Economic Development Forum 


What is being done to spur ECONOMIC GROWTH in Humboldt?  

This gathering offers an opportunity for economic development professionals to 
share local activities and policies in order to link and align efforts across organizations as well as connect community minded individuals across organizations who are not often in the same room. 

Friday, Nov. 6 
9 a.m. to 11 a.m. 
Humboldt Area Foundation
 
FREE
363 Indianola Rd., Bayside
 

Hosted by: Kathy Moxon, Redwood Coast Rural Action
 

Topics include: 

  • An update on State and national policies that affect rural areas
  • An opportunity to share economic development updates, projects and issues

For more information or to RSVP contact 

Maureen Hart, RCRA (707) 407-8335
hartmo@sonic.net

or 

Susan Seaman, AEDC (707) 822-4616 ext. 12
susans@aedc1.org


AEDC Spotlight 

Annual 
Meeting 


Over a dozen community members joined AEDC staff and board to attend AEDC's Annual Meeting on Oct. 27, including past board members, clients, committee members, community partners and community members. 

The agenda included a state of AEDC presented by Scott Bartlett, AEDC's incoming president; a report of AEDC's finances by treasurer Michael Proulx; a report about AEDC's strategic planning process by Julie Fulkerson; information about the new AEDC offices by Ross Welch; and a presentation about the progress at the Samoa Pulp Mill project by Jack Crider, Executive Director of the Humboldt Bay Harbor District. 

Some additional highlights of the evening included new loan funds that have been awarded to AEDC from USDA (see story) and the SBA Microloan Program. Proulx also mentioned new funding sources from servicing loans for the city of Ukiah and Eureka as well as Arcata, and from putting together funding packages for the large community projects that also make an impact on the overall health of our region.   

Michael Proulx, treasurer, shares information about AEDC's financial health. 


 
AEDC News

AEDC is Moving 
to Eureka ! 
 

AEDC is pleased to announce that we have purchased a building at 707 K Street, Eureka. While Arcata has been home to AEDC since 1978, our footprint has grown to include a much larger region. We were looking for a location that was  more centrally located in Humboldt County.  
 
"When AEDC started in 1978, we were part of the City of Arcata. Our reach has grown significantly since then. Arcata will always be an important part of our history, and will remain an invaluable partner in economic development."  
               ~ Ross Welch, Executive Director AEDC
 
Before 
 
 
 After  

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The project is being managed by Greenway Partners with construction by Heartwood Design/Build.
  
Lemonade Day  

Lemonade Day Update 
 
AEDC has recently announced that it will lead the effort to coordinate Humboldt Lemonade Day 2016. 

National Lemonade Day recently held their annual conference and AEDC was there learning about new opportunities for the coming year. Watch for more
 details 

* * * 

On Humboldt Lemonade Day 2015, 
local youth sold almost 3,000 cups of lemonade thanks to the support of the local community 

Educational Opportunity    

CalFresh 
for Employees



Sequoia Personnel Services is continuing to work with employers to educate employees about the CalFresh program and help them see if they qualify for benefits. 

"While it may seem unusual for businesses to help their employees enroll in CalFresh, this program add funds to a family budget, making wages go further," says Michael Kraft, Senior Project Manager at Sequoia. "Employers recognize that this helps them retain employees and reduce the costs associated with employee turnover." 

By the end of September, Kraft had met with 31 employers throughout the region- reaching over 2300 employees.

Sequoia Personnel Services representatives can meet with employers, HR representatives or employees to explain the benefits of CalFresh and assist with the application process. They can also provide a brief informational flyer that can be included with employee paystubs.

For more information, contact Michael Kraft at Sequoia Personnel Services, Inc. kraft@sequioapersonnel.com or 707-445-9641.




Sequoia Personnel Services has been contracted through Humboldt County Department of Health and Human Services to provide this service 

 CalFresh is California's version of the federal Supplemental Nutrition Assistance Program (SNAP).

                                                                                                     
color map 

We are proud of the variety of businesses we've served over the years at AEDC. We would love to include you in our family of success stories. 

 

Visit www.aedc1.org to get more information about AEDC loans, events and programs. 

 

 


Ross Welch
Executive Director
(707) 822-4616 ext. 11