O'Brien County Economic Development 25 Years of History

February 16, 2015
 
A Short History of O’Brien County Economic Development Corporation

In 1989, community leaders in O’Brien County made the decision to form a county economic development group. The group would consist of representatives from each community and the county. They would be bound by 28E agreements and work together to encourage and promote economic development within O’Brien County.

Possible projects the group wanted to explore included a county wide economic preparedness program, raising funds for working capital or a revolving loan fund, a labor survey and a housing survey. The purpose of the group was also discussed and the general consensus within the group was that they would assist and coordinate the cities within O’Brien County in economic development.

The OCEDC Board of Directors felt there was a need for a fund to assist with new business start-ups and to meet the needs of existing businesses. In 1989, an assessment of $0.25 per capita was made to each incorporated community within O’Brien County and to the County for the rural population. The assessment for the O’Brien County RLF was raised to $0.50 per capita in 1990 and went to $1.75 per capita in 1991 and 1992. No additional assessments were made from 1993 through 1996.

In 1990, the CEPP (Community Economic Development Preparedness Program) was introduced to the individual communities. OCEDC continued to assist the communities in developing their CEPP throughout the next few years.

By April of 1993, the O’Brien County Revolving Loan Fund had accumulated to the point where OCEDC was able to make the first O’Brien County RLF loan in the amount of $25,000 to a new business. In December of 1994, RLF funds were utilized for a Labor Survey and a second RLF loan of $15,000 was made to an existing O’Brien County business in May of 1996.

The OCEDC Board realized a staffed office was becoming necessary and applied for a Rural Enterprise Fund Grant of $34,000 in 1996 for office start-up costs. This grant required matching local funds and a total of $137,500 was pledged to be paid out over two years’ time from the O’Brien County communities and the County as well as from local banks and utility providers. The grant was received in 1997 and the search for a director and assistant began. The first O’Brien County Economic Development Executive Director was hired in July of 1997 and the first Administrative Assistant was hired in February of 1998.

O’Brien County Tourism and the O’Brien County Value Added Ag Steering Committee were both established in 1996. The Tourism Committee has been invaluable in promoting tourism in O’Brien County. They have produced brochures, hosted meetings and tours and their partnership with Western Iowa Tourism presents essential networking and marketing opportunities. The Value Added Ag Steering Committee was formed when OCEDC recognized a need for a coordinated effort to promote value-added agriculture here in O’Brien County. This committee was recognized for its work by being the 2013 recipient of the Iowa Area Development Group Silver Shovel Award.

Today the eight communities and the county of O’Brien continue to honor their 28E agreements with OCEDC and work together to encourage and promote economic development within O’Brien County. One way in which they do this is through the two county revolving loan funds. OCEDC administers the RLF funds responsibly and the Revolving Loan Fund Committee is a key component in the success of these loan funds. In 2006, OCEDC received an IRP Intermediary Relending Program loan from the USDA Rural Development in the amount of $500,000. This created a second pool from which to assist existing and new businesses in the county. In an innovative and extraordinary move, OCEDC added $400,000 to their IRP fund this year when they accepted the transfer of an IRP loan from Storm Lake Chamber & Area Development. To date, OCEDC has made 38 loans with a loan total of $2,210,329.00 and a total assessed value of these projects of $11,881,390.00.

The O’Brien County Economic Development Corporation has been working to promote economic development in O’Brien County since 1989 but it has been the combined efforts of our partners—the communities, county, utility providers, lenders, businesses, board and committee members and other individuals—who have made O’Brien County a great place to live, work and grow. Whether it was providing financial support, needed services or volunteering your time, we celebrate your community minded and forward thinking spirit!

Below you will find a link for a timeline highlighting some of the accomplishments OCEDC has experienced in the past 25 years and a link to a list of past & present Board of Directors & Committee members.

O'Brien County Economic Development Corporation - 25 Years of Accomplishments
OCEDC Past & Present Board od Directors/Committee Members