Business Assistance Programs Save and Create Jobs to Maintain Healthy Economy

June 17, 2005
Santa Paula News

More than $23 million is circulating in Ventura County as a result of the business assistance programs offered by the Economic Development Collaborative-Ventura County (EDC-VC).

More than $23 million is circulating in Ventura County as a result of the business assistance programs offered by the Economic Development Collaborative-Ventura County (EDC-VC). Since January 2005, 122 jobs were saved and 71 created through the EDC-VCs Business Enhancement Program (BEP) and its Revolving Loan Fund Programs. Average salary for the jobs is $30,000. Its estimated that for every dollar earned, four dollars are spent, says Michele Pettes, president of EDC-VC. This is why creating and retaining jobs has a direct impact on the health of Ventura County s economy.$12.5 million was fed into Ventura County s economy through the EDC-VCs Business Enhancement Program by creating four jobs and retaining 100. From saving troubled businesses to assisting companies in their long-term success, the BEP offers assistance in areas such as strategic planning, marketing and public relations, and financial analysis. One-on-one business assistance was provided to 31 companies, and more than 50 individuals attended the BEP Small Business Success Series Workshops. The EDC-VCs loan programs have generated 67 jobs and saved 22 by facilitating the growth and expansion of businesses in Ventura County . The programs are credited with producing more than $10.5 million through assistance to companies such as Saalex Solutions, Inc. of Oxnard and Palermo, Inc. of Ventura .
At Saalex Solutions, the employee roster jumped from 27 to 45 full-time employees as the result of a $150,000 loan through the Defense Conversion Program, which offers assistance to businesses affected by the decline in defense spending. The City of Ventura Business Assistance Program provided a $75,000 start-up loan and a $30,000 expansion loan that created two full-time jobs at Palermo . Ventura County s 10 cities contribute to the EDC-VCs business support programs by offering city loans to start-up and expanding businesses.EDC-VC is a private, nonprofit organization that serves as a business-to-government liaison to assist businesses in Ventura County by offering programs that enhance the economic vitality of the region. For more information about the Business Enhancement Program and other services available to small businesses through the EDC-VC, please contact Michele Pettes at 805-384-1800 ext. 21 or michele.pettes@edc-vc.com, or visit the EDC-VC Web site at www.edc-vc.com.



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