Woods County economic development committee approves minutes and financials; reviews revolving loan fund, regional forum and event plans

The Woods County Economic Development Committee approved minutes from its Dec. 10, 2024, meeting and unanimously approved financial statements through Feb. 28, 2025, during a regularly scheduled meeting. Committee members also received updates on a newly established USDA-backed revolving loan fund, plans for a Northwest Economic Developer Forum on May 8, and the committee’s annual Lieutenant Governor turkey-hunt event, which will include public workshops and business outreach.

The approvals were made by voice vote after motions to approve the Dec. 10 minutes and the financials to Feb. 28 were moved and seconded without further discussion. The chair called for the ayes and declared the motions carried.

The revolving loan fund, created with an approximately $100,000 USDA award, has formal documents and a review committee in place. Jeremy (staff member) said two applications already were approved by the Industrial Authority after recommendations from the revolving loan fund committee: one for a business expansion in Alba and one for a new business expected in Winoka. The committee discussed terms the authority intends to offer: five-year loans with example interest rates discussed at about 3.5% and 4.5%, and a…