Hello CHERYL,

The goal of my newsletter is to keep our board members and stakeholders up-to-date on SCED activities. We will feature project updates, share success stories, provide key SCED facts, and delve into noteworthy economic development events. Let me know if you'd like to hear about a specific topic.

EDA Revolving Loan Fund Capitalization

SCED's Economic Development Administration (EDA) revolving loan fund (RLF) makes up $4.9 million of our $8.4 million lending pool. EDA loan funds are highly coveted because they are granted to SCED and have no cost of capital.

SCED's RLF is nearly fully disbursed and we need additional capital to meet market demand. We are in the position to apply for a new grant from EDA to capitalize a new RLF. EDA requires a 1:1 match rate, which means if we come up with $500,000, then EDA will match us with $500,000 for a $1 million loan fund. SCED has between $250,000-$300,000 of our own funds to match but we could use more!

Do you know of anyone who would be interested in contributing funds to SCED that we could match with EDA? This is SCED's first time looking outward for a match and any suggestions would be appreciated.

I Need Your Help - Project Identification

I completed the Council of Development Finance Agencies' (CDFA) two-day Introduction to Federal Finance WebCourse. Funding sources from EDA, USDA, SBA, EPA, DOE, HUD, and CDFI Fund were highlighted.

One of SCED's functions is to help funnel federal funds into the region. In order to do that, I need you to help me identify economic development projects in your area that need funding.

I'm looking for projects that include:

• Feasibility Studies (can include preliminary engineering and NEPA environmental studies)
• Projects that support water infrastructure, wastewater, or broadband development
• Brownfield Assessment
• Clean Energy Projects
• Rural Utilities & Telecommunications
• Telemedicine & Distance Learning
• Rural Transportation
• Workforce

Update: Thank you to Supervisory Mary Rickert and Steve Bade for helping me make connections at Shasta County and the City of Redding. I'm looking to meet county and city officials who are working on infrastructure and economic development projects.

Caltrans Long-Term Socio-Economic Forecasts by County

The Transportation Economics Branch initiated the forecasting project in 2000 to assist local and regional agencies in their planning and travel forecasting efforts. The project provides a consistent set of long-term socio-economic forecasts for each county.

• Modoc County
• Shasta County
• Siskiyou County
• Trinity County

Modoc County Meat Processing Feasibility Study

SCED received a grant from the USDA to determine the feasibility of a meat processing plant in Modoc County. The advisory committee selected to contract with Morrison, Inc. from Chico to prepare the feasibility study.

Morrison presented the Market Interest Survey to the Modoc County Board of Supervisors on January 9. Based on the surveys and feedback from the Supervisors, Morrison is working on financial projections and a business plan to be shared at the February 20 Alturas City Council meeting.

2024 Economic Forecast Conference

Sierra and I attended the Economic Forecast Conference in Chico last week. It was nice to see SCED board members Amy Morin, Alex Cousins, Shane Starr, and Ric Leutwyler in attendance. Economist Dr. Robert Eyler predicted a soft landing for the economy, but that can all change in the next six months based on geopolitical outcomes.

Dr. Eyler noted that we need to focus on housing, workers, and demography, which can be achieved through regional planning and supporting workforce and economic development.

SCED Board Meeting Schedule - Reserve the Date

Our 2024 board meeting schedule:

• February 15, 2024 - Noon - Zoom
• May 16, 2024 - Noon - Redding City Hall
• August 15, 2024 - Noon - Redding City Hall
• December 5, 2024 - Noon - Redding City Hall

News and Notes

• CDFA Releases Socially Disadvantaged Farmers and Ranchers Access to Capital Toolkit - The toolkit informs agriculture and economic development practitioners about the finance tools available to underserved farmers and ranchers.
• What are Communities of Practice and How are They Helping to Launch New Industry Clusters - Communities of Practice (CoP) are emerging in economic development as a tool to share knowledge, build working partnerships, and solve problems. 
• The State of Diverse Businesses in California - Economic, Fiscal, and Social Impact Analysis - Clair Whitmer, Assistant Deputy Director for California Office of the Small Business Advocate (CalOSBA) referenced this report during her presentation at the Economic Forecast Conference.
• Rural Housing Solutions Webinar - On Tuesday, February 6, NADO will host a rural housing webinar on how EDDs can meet unmet housing needs in their own regions. 
• Investing in Rural Downtowns: What Role are EDDs Playing? - Investing in Rural Downtowns is a new resource from NADO RF exploring what it means to be investment-ready for engaging in downtown development while also showcasing the varied downtown revitalization work that Economic Development Districts (EDDs) are doing in their communities.

Ryan's Ramblings

Thank you to Amy Morin for letting me present to Leadership Redding on their Economic Development day. It is one of my favorite presentations because I'm a Leadership Redding graduate and they end the day at one of our biggest economic development financing successes - Fall River Brewing.

I attended the Modoc County Board of Supervisors meeting for the Morrison presentation. Last week, I was in Chico for the Economic Forecast Conference and sponsors dinner. I'll be at my first CALED Rural Economic Development Exchange this week and look forward to learning more and meeting with colleagues.

Ryan

P.S - Keep in touch with me on LinkedIn.