Economic Development News
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From Our Executive Director
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Michael Josephson, an attorney and ethics lecturer suggests we, “Approach the new year with resolve to find the opportunities hidden in each day.”
I think that is great advice. As our story about 20-year employee Kelli Stirling points out, we can never predict how things might evolve, in business and in life. Being open and seeking opportunities is how AEDC came to be involved in so many wonderful community projects while meeting our core mission to provide loans and support to entrepreneurial, innovative business and community endeavors.
I recommend you also seek the opportunities hidden in each day. With this approach, the possibilities are limitless.
Happy 2020 everyone,
-- Ross
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Kelli Sterling Celebrates 20 Years with AEDC
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When Kelli Sterling came to AEDC 20 years ago, she admits she wasn’t looking for her forever job. “I don't think I was looking for a long-term position so much as a place where I felt at home,” she said. “I am a former banker and needed a different direction while still being able to do what I love to do, which is lend to businesses but for a purpose. I felt better about my job when I came over to AEDC. Working for a non-profit that has a mission made more sense to me.”
Over the 20 years, Kelli has watched her job change in significant ways. In the beginning, AEDC’s focus was primarily micro and average sized loans in addition to SBA 504 Commercial Real Estate loans. Recently, the organization has tackled larger and more diverse projects like the Hoopa Grocery Store, the Eureka Open Door Clinic, the Carson Block Building and more.”
“We've evolved in such a way that we can now look at a project and try to figure out how we can do it rather than say, "this is too big". Instead, we say, 'let's see who else we can bring to the table to get this done', “she explained. “It's been challenging for sure, but the benefits of those completed projects far outweigh the challenges. I still love working at AEDC. Not only do they care about their employees, but they also care about their clients and helping them to succeed.”
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Meet AEDC's New Controller
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Deborah Downs Joins the AEDC Team
On October 1, 2019, AEDC was pleased to welcome new controller,
Deborah Downs.
Deborah comes to AEDC after retiring from the Humboldt Area Foundation.
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I worked for AEDC from 2005 to 2007 and knew I really enjoy working in the field of economic development,” she explained. “Now I want to work with AEDC as it takes the next steps in growing the organization—making sure that accounting is ready for the expansion.
Downs believes that AEDC is strategically poised to be a major project partner with an ability to pull funding from different sources and make things happen.
“The partners are already in place and the need is there. The challenge is to find the right project and get everyone on the same page,” she added. “Working as a team within AEDC, we can make a difference in the community.”
Downs came to Humboldt County in 1988 and has raised three children in the region. She worked in the private sector until 2005, when she switched to Non-Profit accounting.
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The New Northern California Small Business Development Center is
Now located in Old Town Eureka.
The community is invited to a Ribbon Cutting Ceremony and Open House for Humboldt State University’s new headquarters of the Northern California Small Business Development Center.
When
February 5, 2020 | 5:00 - 7:00 P.M.
Where
416 3rd Street, Eureka
Plan to attend to speak with representatives from the SBDC and HSU. Hear about how we are making a difference with students and businesses in our local community and beyond!
5:45 p.m.: Humboldt State University President, Dr. Tom Jackson and representatives from the Small Business Administration and the California Governor’s Office will give brief remarks.
Background:
The Headquarters for Norcal SBDC has been hosted by HSU since 2006. Since then, we’ve grown to oversee business training and consulting in 36 north-state counties, with 2- centers and a regional workforce of over 500 — including a strong presence in Humboldt County.
Our headquarters office has until recently been on campus at HSU. As of 2020, our expansion has brought us to a beautiful new space in Eureka!
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Meet AEDC's New Lemonade Day Coordinator
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AEDC is pleased to welcome Taffy Stockton as the new Lemonade Day Coordinator.
AEDC: Why do you think Lemonade Day is important to the community and children?
Taffy: Lemonade Day is a wonderful opportunity to provide support for our kids and our community. I think the official mission says it all
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The foremost objective is to help today’s youth become the business leaders, social advocates, community volunteers and forward-thinking citizens of tomorr
ow.”
I’m excited to be able to be part of supporting our youth as they become the leaders of tomorrow.
A: What did you know about Lemonade Day prior to taking on the project?
T: I’m a long time supporter of Lemonade Day. I have been on AEDC's Program Committee for more than 10 years, and was excited to see Lemonade Day come to Humboldt. I have enjoyed watching all of the amazing work that has been done around it since then. My first in-depth experience with Lemonade Day was in 2013 when my son Myles participated. He was 2 ½, and did a lemonade stand to benefit his grandma and the Ride to End Alzheimer.
A:What prompted you to become Lemonade Day Coordinator?
T: Great timing! My background is in economic development, so I have always admired the work AEDC does, and have been involved in a variety of capacities. When Susan started looking for a coordinator this year, I had just completed a project, and had some time in my schedule for something new. It ended up being the perfect opportunity for me to get to work on a project that I love and have supported for many years!
A: What skills, strengths or experiences do you think will help you in the role?
T: As a long time event manager and project coordinator, I understand the complexities and challenges of running large scale events, especially ones with a lot of volunteers and locations. I love making sure projects run smoothly, and that volunteers and community members are supported as we work together to make a difference.
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Myles Semingson, age 2, at his Lemonade Day 2013 stand in Myrtletown, Eureka
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Want to learn more or get involved?
Mentoring
Sponsors, Volunteers, Participants
* * *
More about Taffy
Taffy has a BA in Public Relations and an MBA. She has worked for and with Humboldt County nonprofits for 20 years as a fundraiser, Executive Director, and consultant. For the last 10+ years she has owned my own business, consulting with local businesses and nonprofits on events, funding and project management.
Taffy is also a 4
th
generation Humboldt County resident. She and her husband are pleased to be raising their 9-year-old son and 6-year-old daughter in the community.
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"Thanks for supporting Lemonade Day, and for giving Humboldt County youth the tools they need to succeed in business and in life."
~ Taffy Stockton
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SBA 504 Current Rate:
3.71%
- Low down payment for borrowers
- Competitive fixed interest rate
- Long Term loan
- From $50,000 to $5 million for commercial real estate, construction and equipment acquisition.
Many commercial loans available on the market require a sizeable percentage down before the loan will be granted, and this can be an obstacle for many business owners looking to improve their facilities. The SBA 504 Loan offers a solution for that -- you can borrow up to 90% of your financing needs at a fixed rate, so only a minimum of 10% down is required.
The remainder is split between the SBA loan (40%) and a bank loan (50%), and the Arcata Economic Development Corporation will work with your bank to submit your loan application. Loan amounts range from $50,000 to $5 million, and some restrictions apply.
For more information, call Kelli Sterling, Loan Manager: 707-798-6132 ext. 214 or email kellis@aedc1.org.
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Arcata Economic Development Corporation
Fax: (707) 798-6130
Tel: (707) 798-6132
707 K Street, Eureka, CA 95501
Newsletter produced by
Lynette Mullen, Projects Delivered
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