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EDGE reports 85 active PILOTs and growing small‑business loan activity; commissioners request more granular wage and extension data
Summary
EDGE presented its annual compliance report, citing increased small‑business loan activity and pilot program outcomes. Commissioners pressed for company‑level wage data, pilot extension details, MWBE breakdowns and clarification of living wage policy.
At the Committee on Economic Development, Tourism and Cultural Affairs, Joanne Massey, president and CEO of EDGE (Economic Development Growth Engine), presented the agency’s annual compliance report and highlighted recent activity on pilot agreements, small‑business financing and neighborhood revitalization programs.
Massey said EDGE has 85 active pilot agreements and a surge in small loans under EDGE’s ‘‘ICE’’ forgivable loan program — growing from three loans in 2022 to 18 in 2024. She said the program provided roughly $400,000 to small…
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