Happy Birthday, BFC and EDC!

After 30 years in business, Oakland County’s Business Finance Corporation and Economic Development Corporation have amassed some pretty good numbers: total investment of more than $1.2 billion and more than 26,000 jobs created or retained.

It was certainly a cause for celebration as the BFC and EDC honored employers and lenders during a reception June 9 at Oakland Hills Country Club in Bloomfield Hills. About 350 people attended the event and as did representatives from the 27 businesses that were honored, 25 of which are in Oakland County.

“The BFC and the EDC have been transformational in their impact on the financing of Oakland County businesses for 30 years,” Oakland County Executive L. Brooks Patterson said. “Congratulations to Mary Langhauser and her whole Oakland County Financial Services team for hard work they do.”

Langhauser, who supervises the financial services team for the county’s Department of Economic Development & Community Affairs, said she expects both programs to get stronger as they move into their fourth decade.

“Other programs have come and gone but these are the true work horses,” Langhauser said. “Thirty years is a long time. It’s a lot of investment.”

The BFC and EDC assist companies with fixed asset financing. The two programs have financed more than 500 projects since the beginning.
Six members of the governing boards for the BFC and EDC were honored for their 30 years of service: Peter Christiano, Ted Dziurman, Martin Hollander, Linda Russell, Robert Schwartz and Fred Seeley.

J.P. Morgan Chase Bank was chosen as Bank of the Year and Clarkston State Bank was named Community Bank of the Year.