"THE CUERO EDGEVANTAGE"
VOL. 4, NO. 8 • CUERO DEVELOPMENT CORPORATION MONTHLY NEWSLETTER • JULY 2004

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2004 National EDC Conference

Diana Blank, Director of Economic Development, Cuero Development Corporation, attended the Economic Development Administration National Conference in Washington, D.C. in June. The conference theme was "Translating ideas into Regional Prosperity - the Innovation Imperative." The main focus was on regionalism and general collaboration with diverse groups and the importance of technology and life sciences in our country's future. Math and life sciences have become so important because the United States can no longer compete on price alone. The jobs that are created in those fields will enable the U.S. to stay competitive. Blank attended several informational sessions at the conference on the vision for U.S. economic development. worldwide realities and regional opportunities, the innovation imperative, rising to the innovation challenge, strategies for financing innovation, strategies for revitalizing manufacturing competitiveness, how to grow high-value jobs and investment in your region, dealing with crisis: decline of local industries, building an entrepreneurial culture and innovation in rural economic development.

Texas Workforce and Economic Development Conference

The Director of Economic Development for the Cuero Development Corporation, Diana Blank, recently attended the 2004 Workforce and Economic Development Conference in Austin. Innovation, collaboration and the continued stress on the importance of math and life sciences were a common theme as in other conferences. An interesting fact for demonstrating the need for math and life sciences in U.S. schools is that 55% of all engineering degrees earned in the U.S. today are earned by foreign students. The majority of those graduates will return to their country to utilize their degrees. That fact again stresses the importance of math and life sciences beginning at a young age in order for the U.S. to continue to compete in the global marketplace with services such as the mentioned field of engineering.

DeWitt Community Development Foundation Announces Revolving Loan Fund

Owners of new or existing businesses interested in moving into the DeWitt Industrial Park now have a new source of capital through the DeWitt Community Development Foundation's Intermediary Relending Program (DCDF-IRP).

The purpose of the program is to combat community deterioration and to improve the economic base and living conditions in the area. The DCDF-IRP will make loans to small businesses, and/or new businesses for the purpose of creating new jobs and/or retaining existing jobs. The lending objectives are to help new and existing micro-enterprises grow into small businesses, help small businesses grow and stabilize themselves.

The maximum amount for a DCDF-IRP loan is $96,000. The interest rate is 2% under Prime (bank prime is defined by National Rural Utilities Cooperative Finance Corporation). The maturity of the loan is determined by the ability to repay, use of proceeds and useful life of the asset being financed. Loans for working capital purposes cannot exceed 7 year amortization schedules that parallel the economic life of those assets.

Funding for the DeWitt Community Development Foundation's Intermediary Relending Program (DCDF-IRP) was made possible by a grant from the United States Department of Agriculture Rural Business Enterprise Grant Program.

The DeWitt Community Development Foundation is a non-profit 501(c)(3), established in 1998. Its Board of Directors is comprised of members from rural DeWitt County as well as the communities of Cuero, Yoakum, Yorktown, Nixon and Westhoff. The mission of the foundation is to enhance, promote and improve the quality of life within the greater DeWitt Community. Entrepreneurs or owners of existing companies interested in accessing a loan should call the DeWitt Community Development Foundation at 361-275-5030.

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