County legislates microenterprise program funding amid quiet loan activity

During the Greene County Economic Development Corporation (EDC) meeting held on March 5, 2025, key discussions centered around the current budget status and upcoming initiatives aimed at fostering local economic growth. The meeting served primarily as a housekeeping session, confirming the effectiveness of the current executive slate and committees, with no immediate changes anticipated.

The budget for the current year was confirmed as stable, having been approved in October of the previous year. However, attention was drawn to the need for future budget considerations, which will be addressed later in the year. This proactive approach ensures that the EDC remains prepared for upcoming financial planning.

A significant highlight of the meeting was the discussion of a recently approved microenterprise assistance program. This initiative, which underwent a public hearing before the county legislature, is expected to be implemented within the month. The program aims to support small businesses and is part of a broader strategy to stimulate local economic activity. The EDC plans to submit a new microenterprise application in the spring, which will require legislative approval as the EDC will act as the subrecipient of the funds.

Additionally, the meeting touched on the status of Environmental Protection Agency (EPA) programs, where the EDC is either a primary applicant or a subapplicant. However, there was a noted lack of updates regarding these programs, leaving the EDC in a holding pattern as they await further information.

The discussion also revealed a concerning trend regarding loan activity, which has been notably quiet. The EDC currently holds over $3 million in federal loan funds, but with most loans set to mature within two years, there is an urgent need to explore alternative uses for these funds. Efforts are being made to engage with state agencies to identify new opportunities for loan distribution, ensuring that these resources can effectively support local economic development.

In conclusion, the Greene County EDC meeting underscored the importance of maintaining financial stability while actively seeking new initiatives to bolster the local economy. As the EDC prepares for future budget discussions and the rollout of the microenterprise program, the focus remains on fostering a supportive environment for small businesses and ensuring the effective use of available resources.