Agenda

Return

C. 73

To:	Board of Supervisors
From:	Kathy Gallagher, Employment & Human Services Director
Date:	October 17, 2017

Contra

Costa

County

Subject:

U.S. Bank Grant Funding

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 10/17/2017

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Elaine Burres 608-4960

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: October 17, 2017
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the Employment and Human Services Director, or designee, on behalf of the Workforce Development Board, Small Business Development Center (SBDC) to apply for and accept grant funding in an amount not to exceed $5,000 from U.S. Bank for SBDC programming and advisory services to low-to-moderate income individuals and businesses to promote economic impact and capital development throughout the County for the period November 1, 2017 through October 31, 2018.

FISCAL IMPACT:

County to receive a grant in an amount not to exceed $5,000 from U.S. Bank. (No County match)

BACKGROUND:

The goal of the Workforce Development Board, Small Business Development Center (SBDC) is to provide services to individuals and small businesses annually through delivering localized programming and personalized advisory services that promote economic impact and capital development throughout the County. The historical impact of the SBDC is significant. In 2014, the Center assisted in the start up of 36 new businesses, created 318 jobs and retained 90 existing jobs, business clients increased annual sales by $31 million and SBDC oversaw the investment of $10.5 million in debt and equity investments of their business clients. In 2015 those figures were 43 new business start ups, 169 jobs created with 127 existing jobs, business clients increased annual sales by $7 million and SBDC oversaw the investment of $8.6 million in debt and equity investments of their client businesses. Last year, the Center assisted in the launch of 56 new businesses, creation of 212 jobs and retention of 54 existing positions, business clients increased annual sales by $11.5 million, and SBDC oversaw the investment of over $5 million in debt and equity investments of their business clients. The U.S. Bank grant funding will contribute to the continued increase in those achievements by providing direct support to the SBDC.

CONSEQUENCE OF NEGATIVE ACTION:

Without this funding, the Workforce Development Board, Small Business Development Center would forego $5,000 in grant funding that contributes toward the continuation of advisory services to low-to-moderate income individuals and small businesses throughout the County.