The Washburn County Economic Development Corporation was established in 2002. The WCEDC is a 501(C)(3) Non-Profit Organization designated as ”tax exempt” by the U.S. Internal Revenue Services (IRS), established to expand the tax base, create new jobs, and retain existing business in Washburn County. The EDC works with new and existing business and industry as well as those wishing to relocate or expand in the county.
Currently, the WCEDC relies on corporate, public and private support for its financial assistance. They receive a healthy injection from Washburn County (42% of the budget). They contract, with the Washburn County Industrial Development Agency to market and manage, five Revolving Loan Fund (RLF) programs administered by the Washburn County Industrial Development Agency (WCIDA). They also operate a sixth RLF that with help from the WCIDA. The contract accounts for 33% of the annual budget. The WCEDC receives memberships that account for approximately 14% of their budget, with the remaining 11% supplied by grants and aides to the corporation. The WCEDC could not continue with its economic development successes without these generous contributions.
Services provided by the WCEDC include, but are not limited to the following: business planning assistance, business training needs, project funding sources and financing, assistance in working with lenders and alternative financing, business and technical research and referral, information on commercial and industrial real estate and technical assistance with business start-ups, expansions, relocations, and collaborative training and consultation.
The WCEDC Activities over the past year (2011) have included:
- An increased number of participating and new members to the organization
- The development and expansion of new or existing business and industry in the county
- The addition of new programs to assist in county economic development efforts
- Work on and submission of additional grants and aides along with other funding opportunities to increase the amount of service programs for business and industry
- The WCEDC continues to strive in increasing the amount of business financing opportunities and number of new loans
- Continues in working to help the WCEDC become a self-sustaining operation, insuring business support well into the future for Washburn County