Economic Development Collaborative Ventura County

TO PROMOTE LOCAL ECONOMIC DEVELOPMENT, ADMINISTER FINANCIAL AND LOAN PROGRAMS, PROVIDE ASSISTANCE IN THE RETENTION AND DEVELOPMENT OF LOCAL BUSINESS, FACILITATE CLUSTER DEVELOPMENT, PROVIDE TECHNICAL ASSISTANCE AND TRAINING, OPERATE A VARIETY OF PROGRAMS TO ASSIST DEFENSE DEPENDENT INDUSTRIES, AND SERVE AS AN ADMINISTARTIVE BODY FOR THE DISSEMINATION OF INFORMATION PERTAINING TO COMMUNITY ECONOMIC DEVELOPMENT.

THE ECONOMIC DEVELOPMENT COLLABORATIVE-VENTURA COUNTY (EDC-VC) IS A PUBLIC/PRIVATE PARTNERSHIP THAT PROVIDES BUSINESSES WITH PROFESSIONAL CONSULTING, TRAINING AND LENDING SERVICES TO HELP BUSINESS THRIVE AND ADD JOBS.WE ARE SERVICE DRIVE, WITH ACTIVITIES ORGANIZED AROUND BUSINESS RETENTION AND EXPANSION, BUSINESS ATTRACTION AND THE ACCELERATION OF ENTREPRENUERSHIP. IN 2020 OUR SERIVES WERE SHAPED DRAMATICALLY STARTING IN MARCH WITH THE ONSET OF THE PANDEMIC. WITH THE TREMENDOUS OUTPOURING OF FEDERAL ASSISTANCE FOR ECONOMIC STABILIZATION, BUSINESSES NEEDED AN UNPRECEDENTED LEVEL OF GUIDANCE ON NAVIGATING THESE NEW PROGRAMS AND ACCESS TO CAPITAL. BEGINNING IN MARCH OF 2020, EDC MADE A RADICAL AND TIMELY PIVOT TO ADDRESS THIS EXTRAORDINARY NEED, BUILDING UPON OUR EXISTING BASE OF SERVICES BY OFFERING BILINGUAL REMOTE ONE-ON-ONE CONSULTING, IMPLEMENTING INFORMATIONAL WEBINARS AND ESTABLISHING A RAPID RESPONSE CALL TEAM.DURING 2022 WE CONTINUED TO BUILD ON THE PROGRAM INNOVATIONS WE DEVELOPED IN 2020 AND 2021, BOTH TO ADDRESS THE DIRECT IMPACTS OF PANDEMIC AND TO FACILITATE A BROADLY SHARED, EQUITABLE AND SUSTAINABLE ECONOMIC RECOVERY. FOR NOTABLE CONCENTRATIONS OF ACTIVITY:OUR SMALL BUSINESS DEVELOPMENT CENTER CONTINUED ITS STATEWIDE LEADERSHIP, NOT ONLY IN VOLUME OF ACTIVITY FIRST AMONG ALL 49 OF CALIFORNIAS SMALL BUSINESS CENTERS FOR HOURS OF DIRECT BUSINESS ADVISING BUT ESPECIALLY IN OUTCOMES: FIRST FOR FACILITATING CAPITAL ACCESS FOR HISPANIC OWNED FIRMS, SECOND IN CAPITAL ACCESSED AND THIRD IN START-UPS AND TOTAL POSITIVE ECONOMIC IMPACTS FOR WOMEN-OWNED FIRMS.OUR LENDING PROGRAMS CONTINUED TO EXCEL IN VOLUME OF LOANS AND LOAN CAPITAL, WITH 58% OF LOANS AND 63% OF LOAN CAPITAL DISTRIBUTED TO MINORITY AND WOMEN-OWNED BUSINESSES SINCE 2013.WE SECURED DESIGNATION FROM THE CALIFORNIA OFFICE OF SMALL BUSINESS ADVOCATE AS ONE OF TEN INCLUSIVE INNOVATION HUBS, OUR PURPOSE BEING TO HELP WOMEN AND MINORITY TECHNOLOGY ENTREPRENEURS TO OVERCOME LONG-PERSISTENT BARRIERS TO ACCESS CAPITAL AND TECHNICAL ASSISTANCE.WE SECURED FUNDING FROM THE COUNTY OF VENTURA TO PARTICIPATE WITH THE VENTURA COUNTY OFFICE OF EDUCATION, FIRST 5 VENTURA COUNTY AND CHILD DEVELOPMENT RESOURCES, FOR IMPROVING RESOURCE DEPLOYMENT FOR CHILD CARE PROVIDERS, RESTORING AND ENHANCING OUR REGIONS CAPACITY FOR CARING FOR CHILDREN AND SUPPORTING WOMEN TO RETURN TO WORK.WE SECURED DESIGNATION BY THE STATE OF CALIFORNIA AS FISCAL AGENT AND CO-CONVENER FOR UPLIFT CENTRAL COAST, A $5 MILLION, TWO-YEAR SIX-COUNTY INITIATIVE TO PLAN AND IMPLEMENT AN EQUITABLE AND SUSTAINABLE REGIONAL ECONOMIC STRATEGY.WE LAUNCHED THE PILOT TRAINING PROGRAMS FOR OUR THREE-YEAR, $5 MILLION DIGITAL LITERACY PROGRAM, REACHING COLLABORATIVE AGREEMENTS FOR TRAINING DESIGN AND DELIVERY WITH THE VENTURA COUNTY OFFICE OF EDUCATION AND VENTURA COUNTY ADULTS SCHOOLS CONSORTIUM, WITH WOMENS ECONOMIC VENTURES AND WITH GBL SYSTEMS CORPORATION AND COMPTIA: INFORMATION TECHNOLOGY CERTIFICATIONS AND TRAINING.