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Superior California Economic Development outlines lending, grant projects and regional priorities
Summary
Ryan Richardson, executive director of Superior California Economic Development, updated council on lending activity, regional strategy (CEDS), grant projects and pandemic‑era recovery work that supports small businesses and rural downtown revitalization.
Ryan Richardson, executive director of Superior California Economic Development (SCED), presented the organization’s annual update, describing lending activity, the Comprehensive Economic Development Strategy (CEDS) and recent grant projects.
Richardson said SCED serves a four‑county district with about 250,000 residents and operates several lending and grant programs that support small businesses and economic projects. He reported that last year SCED made roughly $1.9 million in loans; about $1.1 million of that was within Redding and leveraged a further $3.3 million in private and bank financing. Richardson said 60% of SCED’s revenue comes from lending operations and that the organization also pursues federal (EDA), state and USDA grant programs.
He highlighted projects funded or advanced through SCED including an extension to the Stillwater Business Park, Simpson University projects and a Wells Fargo regional grant application for rural downtown revitalization and entrepreneurial boot camps run with Shasta College. Richardson said the organization is pursuing additional funds to replenish revolving loan funds (currently a high utilization rate) and emphasized collaboration with city staff and regional partners to attract grants and implement projects.
Council members thanked Richardson and acknowledged the role of SCED lending in leveraging private investment for local businesses. No formal action was requested.
