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.

CALED's Annual Conference

I attended my first CALED Annual Conference a few weeks ago and enjoyed the economic development content. There was an excellent session on using AI in your marketing efforts. I also enjoyed the sessions discussing buy-local campaigns and projects to alleviate homelessness. Incredible work is being done throughout the state. Unfortunately, these projects used COVID stimulus funds for implementation and are now struggling to make ends meet as the funds sunset.

Economic development efforts have been buoyed by an influx of stimulus cash over the last few years. SCED received COVID funds from EDA to support resilience planning and capitalize an RLF. With the resiliency grant, SCED hired two additional staff members whose work led to the USDA grant for the Modoc Meat Processing Plant Feasibility Study. Both went on to other jobs when the grant ended.

The Rural Workforce Trends, Challenges and Opportunities breakout session noted:

1. There is a lack of labor supply in California.

2. Texas' growth has been due to housing supply.

3. California's growth is limited by housing supply.

The labor force's growth is key to economic development, and labor needs housing. Presenter Dr. Thornberg's recommendations for rural California development:

1. Understand what your economy is and isn't.

2. Participate in policymaking at the state level.

3. Invest in housing - particularly multi-family.

4. Control your local narrative by investing in research.

A Healthy Economy - Ryan's Version

SCED's mission is to create stable, long-term employment opportunities in the private sector. As an entity, SCED does not create jobs. Our job is to make it easier for entrepreneurs and businesses to create jobs within the district.

Jobs are great, but we need people (i.e. workforce) to fill those jobs. Workforce is created through people having kids and those kids getting an education, recruiting new people into the area, and upskilling existing workers.

The third leg of a healthy economy is community. People need a place to live. If housing isn't available, it is hard to grow a workforce. Those just entering the workforce will look for opportunities outside the area and recruitment is nearly impossible without housing.

For many in economic development, housing, or specifically a lack of workforce housing, is a key concern. Workforce housing is not the same as affordable housing. Workforce housing is housing for teachers, police officers, nurses, etc.

A healthy economy needs a balance of people, jobs, and community.

Comprehensive Economic Development Strategy (CEDS) - Advisory Committee

I am looking for recommendations to SCED's CEDS Advisory Committee. The advisory committee comprises district representatives with expertise in economic development, workforce development, housing, education, labor, area employers, business owners, tribal government, local government, tourism, timber, etc. 

I will convene the CEDS advisory committee at the beginning of June to participate in the annual CEDS update. The CEDS is a strategy-driven plan for regional economic development. It is the result of a regionally owned planning process designed to build capacity and guide an area's economic prosperity and resiliency.

It is a key component in establishing and maintaining a robust economic ecosystem by helping to build regional capacity (through hard and soft infrastructure) that contributes to individual, firm, and community success.

SCED Loan Corner

The Small Business Administration (SBA) 504 loan program is a financing option to help small businesses acquire owner-occupied commercial real estate.

Sierra just received SBA approval on our first SBA 504 refinance under the new rules! The $2.55 million refinance project will save the borrower nearly $100,000 annually.

SCED receives a processing and monthly servicing fee when the loan funds. SCED's SBA 504 program generates unrestricted funds for the organization.

Sierra sends a monthly SBA 504 rate newsletter to our lending partners. Please click here to get added to her newsletter.

SCED Board Meeting Schedule - Reserve the Dates

• May 16, 2024 - Noon - Redding City Hall
• August 15, 2024 - Noon - Redding City Hall
• December 5, 2024 - Noon - Redding City Hall
• February 2025 - TBD

News and Notes

• Please plan on attending May's board meeting. We'll review our budget and Ric Leutwyler will conduct a strategic planning session. It will be a great meeting to familiarize the board with what is happening at SCED. Feel free to reach out if you want to meet before the board meeting.
• In preparation for an EDA grant SCED board member and Supervisor Shane Starr and I toured the Mill site in Alturas. Shane also invited me to the Modoc EDC meeting. It is great to see business owners and community members coming together.
• I attended TCDC's Building Out Future Together: A Community Development Workshop. Hearing about economic development issues faced by Trinity County and how they parallel those in Modoc County and much of rural America was interesting.
• It was good to catch up with colleagues and hear presentations from GoBiz and the SBA at the regional California Association for Micro Enterprise Opportunity (CAMEO) meeting.
• I met with Amy Hause and Hannah Lewis from Rural Development Initiatives to learn about their organization, specifically their work in Resilient Rural Economies that include Main Street Economic Hubs and WealthWorks. Fascinating organization.
• Economic Development Insights: https://www.scedd.org/articles
• Grant Opportunities: https://www.scedd.org/grants
• SCED Newsletters: https://www.scedd.org/newsletter
• To stay updated between the newsletters and board meetings, follow us on LinkedIn.
• SCED LinkedIn
• Ryan's LinkedIn
• Sierra's LinkedIn

Ryan's Ramblings

I was touring the Alturas mill site when I suddenly stopped and got very excited to see a porta-potty—and it's not what you think! I grabbed my phone and took a picture because SCED helped finance Saddleback Sanitation.

I always get excited to see our borrowers in the wild. The porta-potty market was being served by an out-of-the-area business. Saddleback Sanitation is bringing that business back to Alturas. Keeping local money local is a cornerstone of rural economic development.

Have a great day!

Ryan

P.S. - Schedule a meeting with Ryan here.

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