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Brookings economic development partners report growth; BDC, research park, chamber, tourism and venue highlight wins
Summary
City economic development partners told the council the Brookings Economic Development Corporation is assisting local firms and preparing a revolving loan fund, the SDSU Research Park reported 15 startups and 35 jobs in the last 18 months and an estimated $3.3 million in payroll impact, Visit Brookings reported ~66% hotel occupancy and a new tourism ambassador program, and venue and downtown groups described events, grants and sponsorship growth.
Leaders from Brookings' economic development partners gave a consolidated update to the City Council on programs, metrics and next steps for workforce, business support, tourism and events.
Tim Reed, CEO of the Brookings Economic Development Corporation (BDC), summarized how BDC activity maps to the city's economic development master plan. "We are presently working with about 4 different businesses that are looking to expand here in Brookings," Reed said, and noted the BDC has received more than 600 responses to a consumer survey used to inform retail and site selection priorities. He said the BDC is moving forward on a revolving business loan fund and expects more detailed program terms by the end of the year.
Dwayne Chapel, CEO of the SDSU Research Park, described regional recruitment tied to a newly completed biocenter and said the park has worked with 15 startups in the past 18 months that created 35 jobs. Chapel estimated the annual salary impact of the new…
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