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SDPDD's role in economic development is to act as a catalyst through the packaging of available funds to assist in locating industry. This priority is set forth in the Comprehensive Economic Development Strategy (CEDS) and the Overall Economic Development Program (OEDP). Through a cooperative effort with the private sector, local units of government, and other interested parties, the District works to improve the employment opportunities and quality of life for area citizens. By assuring adequate infrastructure to support industry and by providing financing programs, SDPDD supports the goal of reducing unemployment and raising per capita income to the national average.
Development of Local Plans
SDPDD assists governments in preparing comprehensive plans, land use plans, housing plans, transportation plans and zoning ordinances in an effort to stay in compliance with state law. Since these plans cover a 20-25 year period, they are required to address goals and objectives, and at a minimum, residential, commercial, and industrial development.
EDA Revolving Loan Fund
The District's Revolving Loan Fund has been the most utilized funding source throughout the past year. The creation or expansion of each business has had a great economic impact to the area. Since this program started, loans processed have totaled more than $4 million.
Farmer's Home Administration Intermediary Relending Program (FmHA IRP)
The FmHA IRP is operated in conjunction with Rural Economic and Community Development / Farmers Home Administration by SDPDD. Upon utilization of the original funds loaned to SDPDD by FmHA, the program has developed into a Revolving Loan Fund program for SDPDD. This program has proven useful land has had a great influence on the economics of the South Delta region. Total funds loaned - $7,250,000.
Minority Business Enterprise Program
The State of Mississippi created this program for the purpose of making grants or loans to Planning and Development Districts to establish a revolving loan fund to assist in providing financing of minority economic development. SDPDD has processed or committed $2,800,000 for this program. This loan program continues to grow creating a great impact on the South Delta region.
Farmer's Home EZ
$750,000 of this program has been committed.
Mississippi Small Business Assistance Loan Program
This program which began in October, 1993 was capitalized with a $1,000,000 grant to South Delta PDD. It is used to aid small businesses in the District. SDPDD has loaned $4,910,000 from this program.
Rural Business Enterprise Grant Program - RBEG 1 and 2 Combined
RBEG loan funds have been awarded to SDPDD for loans to small businesses in the Empowerment Zone. This funding represents $350,000, all of which has been committed in addition to $101,660 in recap funds.
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