Economic Development Collaborative Ventura County

TO PROMOTE LOCAL ECONOMIC DEVELOPMENT, ADMINISTER FINANCIAL AND LOAN PROGRAMS, PROVIDE ASSISTANCE IN THE RETENTION AND DEVELOPMENT OF LOCAL BUSINESS, FACILITATE CLUSTER DEVELOPMENT, PROVIDE TECHNICAL ASSISTANCE AND TRAINING, OPERATE A VARIETY OF PROGRAMS TO ASSIST DEFENSE DEPENDENT INDUSTRIES, AND SERVE AS AN ADMINISTARTIVE BODY FOR THE DISSEMINATION OF INFORMATION PERTAINING TO COMMUNITY ECONOMIC DEVELOPMENT.

THE ECONOMIC DEVELOPMENT COLLABORATIVE-VENTURA COUNTY (EDC-VC) IS A PUBLIC/PRIVATE PARTNERSHIP THAT PROVIDES BUSINESSES WITH PROFESSIONAL CONSULTING, TRAINING AND LENDING SERVICES TO HELP BUSINESSES THRIVE AND ADD JOBS.WE ARE SERVICE DRIVEN, WITH ACTIVITIES ORGANIZED AROUND BUSINESS RETENTION AND EXPANSION, BUSINESS ATTRACTION AND THE ACCELERATION OF ENTREPRENEURSHIP.IN 2020 OUR SERVICES WERE SHAPED DRAMATICALLY STARTING IN MARCH WITH THE ONSET OF THE PANDEMIC. WITH THE TREMENDOUS OUTPOURING OF FEDERAL ASSISTANCE FOR ECONOMIC STABILIZATION, BUSINESSES NEEDED AN UNPRECEDENTED LEVEL OF GUIDANCE ON NAVIGATING THESE NEW PROGRAMS AND ACCESS TO CAPITAL. BEGINNING IN MARCH OF 2020, EDC MADE A RADICAL AND TIMELY PIVOT TO ADDRESS THIS EXTRAORDINARY NEED, BUILDING UPON OUR EXISTING BASE OF SERVICES BY OFFERING BILINGUAL REMOTE ONE-ON-ONE CONSULTING, IMPLEMENTING INFORMATIONAL WEBINARS AND ESTABLISHING A RAPID RESPONSE CALL TEAM. DURING 2021 WE CONTINUED TO BUILD ON THE PROGRAM INNOVATIONS WE DEVELOPED IN 2020 TO ADDRESS THE IMPACTS OF PANDEMIC, PROVIDING DIRECT BUSINESS TECHNICAL ASSISTANCE TO MORE THAN 2,080 CLIENTS THROUGH 13,076 HOURS IN COUNSELING, ANSWERING MORE THAN 51,000 CALLS FOR GUIDANCE THROUGH OUR HOTLINE, SUPPORTING 83 NEW BUSINESS START-UPS, HELPING TO CREATE 605 NEW JOBS, AND FACILITATING BUSINESS ACCESS TO MORE THAN $219 MILLION IN NEW CAPITAL INFUSION. EDC ALSO CONTINUED A PARTNERSHIP WITH THE COUNTY OF VENTURA TO CONNECT MORE THAN 5,000 BUSINESSES TO $5,000 AND $10,000 GRANTS TO HELP BUSINESSES AND THEIR WORKERS WEATHER THE ECONOMIC DISRUPTION CAUSED BY THE PANDEMIC. THROUGH OUR DIRECT LENDING PROGRAMS, EDC ACQUIRED CONTRIBUTIONS IN NEW LOAN CAPITAL FROM THE CITY OF OXNARD TO PROVIDE A COMBINATION LOAN AND GRANT PROGRAM, SECURED AGREEMENT WITH THE CITY OF VENTURA TO LAUNCH A NEW PROGRAM OF $25,000 FORGIVABLE LOANS, AND CONTRIBUTED TO THE CREATION AND RETENTION OF MORE THAN 124 JOBS.CONTRIBUTING TO REGIONAL AWARENESS OF THE IMPACTS OF COVID, EDC COMMISSIONED A STUDY WITH DR. JAMSHID DAMOOEI FROM CALIFORNIA LUTHERAN UNIVERSITY, TITLED A PROFILE OF COVID-19, COMMUNITY, BUSINESS, NONPROFIT AND WORKER IMPACTS: INFORMING AN INCLUSIVE AND EQUITABLE ECONOMIC RECOVERY IN VENTURA AND SANTA BARBARA COUNTIES. TOWARD ASSURING OUR CAPACITY TO MOVE FORWARD EFFECTIVELY IN RESPONSE TO EVER CHANGING AND CHALLENGING ECONOMIC CIRCUMSTANCES, EDCS BOARD OF DIRECTORS ADOPTED A NEW STRATEGIC PLAN, WITH FIVE KEY FOCUS AREAS: PROGRAMS AND SERVICES, STAFFING AND OPERATIONS, BOARD DEVELOPMENT, FUNDING AND MARKETING AND OUTREACH. THE STRATEGIC PLAN ALSO INCLUDES UPDATED MISSION AND VISION STATEMENTS AND THE ADOPTION OF FOUR CORE VALUES: IMPACT-DRIVEN, COLLABORATIVE, AUTHENTIC AND RESPONSIVE.