Klamath County receives funds for economic development

City: Klamath Falls, OR

Klamath County used a $750,000 Community Development Block Grant (CDBG) to increase funds available through an economic development revolving loan fund operated by South Central Economic Development District (SCOEDD). Through this program, loans are made to employers to assist with real property acquisition, construction, working capital and inventory purchases. In December 2007, Business Oregon provided Klamath County a CDBG grant of $750,000 for the $874,500 SCOEDD Business Loan Program. Additional funding was provided by SCOEDD.

Four new loans, utilizing $63,172, have been completed, and two other loans, totaling $542,000, are pending approval. The four loan commitments have leveraged $25,075 and resulted in expansion or retention at two small businesses in Klamath County: Gone Fishing (Tilapia rearing and processing) and Shasta View Genetics (animal husbandry for cattle ranching). The commitments to date will result in retention or creation of six full-time jobs.