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Regional Business Fund supports economic growth in seven Wisconsin counties

December 17, 2024 | Polk County, Wisconsin


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Regional Business Fund supports economic growth in seven Wisconsin counties
The Polk County Board of Supervisors meeting on December 17, 2024, focused on regional economic development and funding opportunities for local businesses. Key presentations highlighted the collaborative efforts of the Regional Planning Commission and the Regional Business Fund in supporting economic growth across the seven-county area.

During the meeting, representatives from the Regional Planning Commission emphasized their role in bridging gaps in planning for smaller communities that may lack dedicated planning staff. They underscored their commitment to leveraging multiple funding sources to enhance community well-being and drive progress in the region. The staff's extensive experience and local connections were noted as vital assets in their mission to support economic development.

Amanda Viet, the lending specialist for the Regional Business Fund, provided insights into the organization's operations and its impact on local businesses. Established in the 1990s, the nonprofit administers revolving loan funds aimed at fostering economic benefits in the region. Viet reported that since mid-2024, the fund has assisted 71 startups in Polk County, generating over 500 jobs and leveraging more than $76 million in private funding.

Viet detailed various loan programs available to businesses, including low-interest loans designed to fill financing gaps. She highlighted specific projects, such as the Happy Hive Indoor Play facility and the Grove Childcare center, which utilized these funds for startup costs and equipment purchases. The meeting concluded with a call for continued collaboration among local economic development partners to maximize funding opportunities for businesses in the area.

Overall, the discussions underscored the importance of regional cooperation in fostering economic growth and supporting local enterprises in Polk County. The board's commitment to these initiatives reflects a proactive approach to enhancing the economic landscape of the region.

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