Between 2011-14, Economic Development Washington County
helped area businesses create 1,881 jobs that generated
$131.2 million in wages and $450 million in sales,
according to a report given by its Executive Director,
Christian Tscheschlok, to a county committee Monday
Tscheschlok shared the EDWC’s semi-annual report with
members of the Washington County Executive Committee.
More than a dozen industries and businesses have
participated in the EDWC’s Revolving Loan Fund program,
Tscheschlok said, benefiting from low interest rates and
“The program is overseen by a committee that is aligned
with, but separate from, the county,” Patrick Thomey,
Revolving Loan Fund chairman, told the committee. “We
have confidentiality and conflict of interest statements
in place and while the makeup of the committee is not
disclosed, it has bankers, legal counsel and business
and county members.”
Thomey said the committee uses criteria to rank
companies applying for revolving loans, such as their
financial condition, debt, management quality,
collateral, industry strength and economic indicators.
tend to shy away from start-ups, retail and
non-for-profits,” Thomey said.
diagram shown during the EDWC presentation to the
committee showed that of the businesses served, 57
percent already existed, with 62 percent in
manufacturing, 23 percent in technology, 8 percent in
food and beverage and 7 percent in the bio-medical
Tscheschlok said the target company for a revolving loan
is one that seeks to further leverage or apply in new
ways either an established or proven competitive
“There have been no write-offs since the revolving loan
program began seven years ago,” Tscheschlok said.