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Dayton EDA to hold work session to refine 2024 goals, reconsiders loan outreach
Summary
The Dayton Economic Development Authority voted to hold a work session after members said progress on the 2024 goals has been limited; discussion focused on refining priorities and promoting a little‑used 2% small business loan program. Staff and members agreed on stepped outreach to raise awareness.
The Dayton Economic Development Authority voted to hold a work session to review and refine its 2024 goals after members said they have made limited progress since April and want clearer, measurable priorities. The motion, moved and seconded during the meeting, passed by voice vote.
Members and staff framed the session as an opportunity to decide whether to continue annual goals or to work primarily from the city’s 2022 strategic plan. Staff told the board the 2024 goals were drawn from a November 2023 exercise; several members said the goals are too broad and need specific, actionable items. One member singled out the goal to "utilize regional trail corridors as opportunities for economic development" as an example of a priority that needs a concrete action plan.
The board also discussed the EDA’s small business revolving loan program, originally established as a 2% loan up to $50,000. Members noted there have been no takers and questioned whether the loan terms should be adjusted now that market interest rates are higher. One member explained the original idea was to offer an "attractive" funding option to help businesses upgrade facilities, but agreed the program should be revisited so it does not fully subsidize borrowing in the current rate environment.
On outreach, members recommended updating the EDA page on the city website and using the city app and social media to advertise available programs. The board endorsed proactive outreach by members and staff, including visiting small businesses to inform them of the loan program and other services. Staff said they would push updates on web and social channels and that two members volunteered to lead in‑person outreach to local businesses.
The work session was scheduled for after the November election to allow for broader member participation and to give staff time to assemble performance data and suggested refinements. The board’s next steps: a focused work session, clearer, measurable goal language, and a marketing push for the loan and county business‑support programs.
