Economic Development Board Exploring Ways to Put Grant Funds to Work

The amount in the bank to be used for economic development by the Effingham County Economic Development Advisory Board has grown to $43,000 and members of the advisory board are looking for ways to put the funds to work.

The County was granted close to $100,000 several years ago by the State to be used for economic development. While the County received the funds in the form of a grant, the County is directed to loan the funds and they must be repaid.

Several businesses now operating in the county have benefitted from the program. 

Advisory committee member Rob Arnold wondered about an incubator where fledgling businesses could locate until they were stable enough to have their own location. It was noted that the funds can't be used to acquire a building, but some wondered whether partnering with the owner of an existing building might be an option.

Committee member Larry Taylor suggested partnering with South Central Illinois Regional Planning and Development Commission, providing gap funding for any projects that agency is assisting.

Arnold also suggested working with The Alliance on any project they might be pursuing.

Anyone interested in more information on the funding should contact the Effingham County Board office at 342-4990.