HISTORY

     Local public officials, business people, bankers and other private citizens worked cooperatively to form GEODC as a private non-profit corporation in June 1982.  Since 1982, GEODC has administered the Small Business Administration 504 loan program in eight counties in Eastern Oregon.  

    The U.S. Department of Commerce, Economic Development Administration (EDA), designated GEODC as a federal Economic Development District. The district serves Gilliam, Grant, Morrow, Umatilla, Wheeler, Harney and Malheur counties. As part of the designation process, GEODC assumed responsibility for the EDA Revolving Loan Fund.

    GEODC has enhanced its portfolio of loan products by borrowing over three million dollars from the U.S. Department of Agriculture, Rural Development, to administer the Intermediary Relending Program. Several small Revolving Loan Funds exist as well, each serving all or part of the GEODC region. 

    In addition, GEODC provides staffing support to Regional Investment Boards and Regional Partnerships located throughout the region. Facilitation and administration are other duties in which GEODC conducts under contract.