The Oakland County Economic Development Corporation (OCEDC) has been named Partner of the Year by the Center for Empowerment and Economic Development (CEED). The award recognizes the organization’s support for the development and growth of small business, especially women and minority owned companies.
“Oakland County is committed to supporting its small businesses at a difficult time in Michigan’s economy,” said Oakland County Executive L. Brooks Patterson. “Through our partnership with CEED, we started the Oakland County Microloan Program which has provided more than $500,000 in microloans and created 47 jobs to date.”
Through this partnership, CEED has been able to place a loan officer at the Oakland County office, work jointly with their business development staff on visiting and serving small businesses, and plan loan orientations at area public locations. Most recently, Oakland County created a video clip on how to obtain an Oakland County microloan.
“This partnership grows stronger each year, with more joint efforts being added,” said CEED Executive Director Michelle Richards. “CEED’s partnership with Oakland County Economic Development Corporation has resulted in an increase in our ability and effectiveness to serve small businesses in Oakland County.”
The award will be presented in Detroit on April 19th at the CEED 28th Annual Meeting and Awards Celebration, sponsored by General Motors and Nu Tek Steel.
The OCEDC board is appointed by the county executive and approved by the Board of Commissioners. It is comprised of bankers, real estate developers, lawyers, accountants and members of the community. State law gives the board the authority to issue tax exempt bonds to stimulate the economy, create jobs and increase the tax base.
Since its inception 32 years ago, the OCEDC has funded 109 projects, totaling $773.8 million in investment while creating or retaining 14,745 jobs. For more information on Oakland County business financial programs, see www.globaloakland.com.
The Center for Empowerment and Economic Development, with more than 1,000 members, is committed to empowering women and minorities economically through business development training, supplier certification, business-to-business networking and accessible capital assistance programs. For more information, see www.miceed.org.