HomeMy WebLinkAbout2. Proposed Economic Development Program Under Review - Newsletter Article Below is a newsletter article that was prepared for this week's CM Newsletter and attached is
the latest version of the Forgivable Loan Fund program.
Proposed Economic Development Program Under Review
The Greater Oshkosh Economic Development Corporation(EDC) is proposing to develop a
business assistance program that will diversify the resources we have to attract and retain
businesses in the City of Oshkosh. A Forgivable Loan Program would be a program funded by
the City of Oshkosh and Greater Oshkosh EDC that will require high-impact investment and
job creation with above average wages in order to qualify. The program will be utilized on a
limited basis, only after all other options have been deemed ineligible. City funds for the
program will come from the City's Revolving Loan Fund and the Greater Oshkosh EDC will
match the City's contribution on a 1:1 match with their private dollars. The City's Long Range
Finance Committee and the Greater Oshkosh EDC RLF Committee will be reviewing the
parameters of the program and will send a recommendation to Council in March. City staff is
supportive of this program as a way to add another tool to our economic development tool box
as a way to encourage economic growth in the city. Please contact Kelly Nieforth, Economic
Development Services Manager, with any questions.