Community Economic Development program presentation credits grants with thousands of businesses and jobs
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Summary
A presenter summarized outcomes from the Community Economic Development (CED) program, saying 290 projects were completed between 2016 and 2024 that created or expanded more than 2,400 businesses and over 14,000 jobs (75% filled by low-income workers); a funding total in the transcript is unclear.
Unidentified Speaker, a presenter, outlined results from the Community Economic Development (CED) program and said the initiative expands employment for individuals with low incomes in communities facing persistent poverty and high unemployment.
The presenter said 290 CED grant projects were completed between 2016 and 2024 and that the grants "created or expanded more than 2,400 businesses," including "food trucks, day cares, restaurants, health care, food markets, and many more." The presenter added that the grants "created more than 14,000 jobs," and that "75% of those jobs were filled by individuals with low incomes."
The presenter highlighted job-quality goals, saying CED prioritizes "quality jobs that offer living wages, paid leave, fringe benefits, and opportunities for career growth." The presentation also noted a program benchmark that "at least 1 new job must be created for every $32,000 awarded in CED funding," and claimed the grants "created more than twice as many jobs as this minimum requirement with an average cost per job of less than $14,000."
On program leverage, the presenter said that "on top of the CED money that was invested in communities, over $1,500,000,000 additional dollars were leveraged." The transcript also records the presenter stating, verbatim, "That means for every dollar of CED funding, dollars 7.55 of other funding was invested back into the communities," a phrasing that is awkward in the record and should be clarified by program staff.
One funding figure in the transcript is garbled: the presenter said, "This amounts to a total of over $2.00 $3,000,000 in CED grant funding." Because that line is unclear in the transcript, the article does not assert a single verified total for grant funding; the exact total was not specified in the record and should be confirmed with program documentation.
The presentation concluded with thanks to local stakeholders for supporting individuals and families through CED. The presenter did not announce any new actions, votes, or next procedural steps during this recorded segment.