Wednesday, October 10, 2007

Peoria County Gap Loan Program 10/10/07

A statement was made on my blog site about my malfeasance in voting for GAP Loans. Here is data from our EDC lisason Sally Hanley. I believe Peoria County has a sterling record to date in helping Peoria County companies to stay located in Peoria County and help new businesses get off the ground.

All loan projects when presented to the full County Board were passed unanimously. All were previously debated were both in committee and before the full board. Several loan requests have been turned down as deemed not meeting GAP Loans Policy.

All applications must be recommended by the EDC before any action is taken by any Committee or the full County Board.

Aattached is information from the EDC.

Thanks, Sally

"Merle, per your request please see the GAP results below for your Blog. The report reflects activity from 2002 when I started. We have had only 3 out of 50 loans go "bad" since the inception back in 1986."

2002-2007 Peoria County Government Assistance Program (GAP) Activity

Total New Capital Invested: $30,252,619.50

Peoria County GAP Loan Portion: $1,612,000.00

13 Businesses Involved:
Ser-Wieg, Inc. *
The Palace Roller Rink *
MHCR, LLC (Culvers Restaurant) *
Allied Packaging, LLC *
inPlay *
Roecker Partnership
Firefly *
eServe LLC
Doehrmann's Ace Hardware *
River Station *
Globe Energy *
* indicates a new business (9 out of 13)

New Jobs Created: 239

Jobs Retained: 71

Sally Hanley
Development Director
Economic Development Council for Central Illinois
124 SW Adams Street, Suite 300
Peoria, Illinois 61602-1388
309.495.5953 v
309.495.5963 f

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