Priority Projects and Partnerships South Eastern Economic Development (SEED) Corp.

and other Small Business Initiatives

Established in 1982, the SEED Corp seeks to improve the region’s economy focusing on the successful outcomes of small businesses. SEED Corp. achieves their mission by providing financial and technical support to start and expand small businesses -and to utlimately create jobs. During the pandemic, SEED Corp. recieved multiple awards from state and federal sources totaling more than $8 Million. These funds were used to support a revolving loan fund to alleviate the sudden and severe economic dislocation caused by COVID-19, to provide permanent resources that lead to economic resiliency, and to further the long term economic adjustment objectives of the southeastern region.

Proposed Investments and Initiatives: SEED Corp. continues to offer funding and technical assistance to entrepreneurs across the region. SEED Corp. will continue to host monthly workshops and individualized assistance to small businesses. As a Community Development Financial Institution (CDFI), SEED targets underserved populations and communities as well as low to moderate income individuals. SEED’s emphasis addresses higher unemployment rates among these historically underserved communities.

Strengths

• Strong regional universities, colleges, and community colleges

• Cities and large towns with growing and increasingly more diverse and educated populations

Weaknesses

• We have higher unemployment

• Modern infrastructure investments – especially in ports, water, sewer, and broadband – are still required for more growth

Threats

• Unforeseen economic and social disruptions, such as the recent COVID-19 pandemic

• Perceptions of persistently high unemployment and low educational attainment