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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 businesses in 2024 and that EDGE’s activities support jobs, investment and MWBE participation. EDGE staff also noted growth in foreign‑trade zone activity and ongoing downtown projects EDGE supports as part of its role administering incentives and conduit financing.
Commissioners asked detailed compliance questions. Commissioner Thornton asked for an analysis of MWBE prime participation and reasons minority firms may bid only as subcontractors; EDGE staff said contractors sometimes lack capital to serve as primes and that additional outreach is needed. Commissioner Shookman asked for a list of pilot recipients paying below a $20.78 statewide living‑wage estimate cited by the commissioner; Massey said the county’s current policy sets a $15 baseline and that EDGE pilots average about $18 per job based on company reporting, but she agreed to provide company‑level data on wages and pilot extensions upon request.
Commissioners also sought the list of the five pilot extensions and asked for a parsed breakdown of MBE and WBE spend (Edge noted that detailed supplier level data is maintained by certification agencies and partner procurement offices). Massey said EDGE monitors compliance, returns funds if a company defaults, and enforces clawbacks when required. Commissioners signaled concern about transparency and requested more granular reporting on pilot performance, wage levels, extension reasons and how abated taxes are calculated and applied.
Massey said EDGE is aligning outreach and partnership work to emphasize neighborhood economic impact, community builder pilots and targeted loan programs to small businesses in inner‑city neighborhoods.
