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Deschutes County Commissioners Hear Success Stories from Recipients of EDCO Loans


Economic Development for Central Oregon administers the loans, that pay 2-thousand dollars a job for a maximum amount of 50-thoussnd dollars.

 

Commissioners heard from Mark Coppin with "Dent Instruments" about how their 12-thousand dollar loan -- spread throughout the community when they converted a former bank into their new facility.

 

"We needed to employ more people and needed a bigger building.  We have to redevelop the bank.  We spent 12-thousand dollars, but we actually spent $250,000 on local construction converting the buidling to manufacturing.  So the funds went straight back to the community as well."

 

In the last five years, Dent Instrumetns has seen 30 to 35 percent growth.

 

These EDCO loans turn into forgiven loans if the businesses meet their job commitment or a year.


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