Miami County Commissioners OKs $1.3M for revolving loan fund


TROY – The Miami County Commissioners authorized the contribution of $1.3 million to the Miami County Community Improvement Corporation/Land Reutilization Corporation for the Workforce Development Initiatives and Seed County Economic Development Revolving Loan Fund.

A total of $200,000 will be utilized for the commencement and completion of the countywide needs assistance assessment. The establishment of a workforce development fund will utilize $400,000 in 2022 and $200,000 in 2023. The remaining $500,000 will be utilized for the creation of a county revolving loan fund which will be in 2023.

According to Richard Osgood, executive director of the department of development for Miami County, the department is still working on the details of the programming.

Commissioner Gregory Simmons said, “I’m excited about the direction that we’re going now. We’re finally getting there. The county’s going to benefit so much from this and that’s exciting as well.”

Commissioner Wade Westfall said, “We all know workforce development is a major key in this county, especially for its economy. I’m excited also.”

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