Economic Development Resources are any programs, services, organizations, or initiatives that seeks to help local businesses grow and thereby stimulate the economy. For Tiffin and rural Seneca County, we have identified more than 175 different resources, and contacts and organizations that administer or provide the resources are called Resource Partners. They fall into four general categories:
Specialized Resources
A grouping of a diverse set of resources that can help a company do everything from grow sales domestically and internationally, to improve operations, to conducting more research and development. These can assist if a company looking to grow sales (G) and in other areas as well.
- Downtown (Tiffin) Resources – specialized resources to assist business and development in downtown Tiffin
- Entrepreneurship & Small Business – specialized resources to assist entrepreneurs, start-ups, and small business
- Export & International – specialized resources to assist companies sell product overseas and international companies to operate here locally
- Manufacturing – specialized resources to assist manufacturers
- Research & Technology – specialized resources to assist companies with research activity and technology development
- Veteran-, Women-, Minority-Owned – specialized resources for companies owned by vets, women, and/or minorities
- Small Business & Mentorship - specialized resources via the Small Business Resource Center located at Terra State
Workforce Resources
The number one need of the majority of growing companies is finding, hiring, and retaining the people and talent they need. They do this through recruiting and training. There are currently about 50 resources in this category. They divide into the following subcategories:
- Workforce Development – building your employee pipeline
- Workforce Grants & Tax Credits – taking advantage of government programs
- Workforce Information – understanding wages, availability, solutions, and resources
- Workforce Initiatives – engaging in big-picture efforts to improve the system
- Workforce Recruitment – attracting existing workers to your business
- Workforce Training – developing your existing employees
- Other Workforce Programs – using other resources to assist with workforce issues
Financing Resources
Resources to help a company get the financial resources they need and/or to get them at a lower cost. There are more than 50 resources in this category. These can assist if a company answers yes to the second I (Invest) of the INSIGHT questions.
- Alternative Financing – PACE and TIF financing
- Bond Financing – bond financing
- Credit Enhancement Programs – collateral, insurance, guarantees
- Interest Rate Reduction Programs – state programs that reduce private bank financing interest rates
- Investment Capital – angel, venture, investor capital sources
- Loan Financing – public and nonprofit programs
Real Estate Resources
Resources to help a company find and secure a business location that meets their needs. There are currently 56 resources in this category. These can assist if a company answers yes to the S (Space & Location) question of the INSIGHT list.
- Real Estate Financing – most financing programs will finance real estate
- Real Estate & Infrastructure Grants – grants to assist with real estate development costs
- Real Estate Services – economic development services to help businesses address real estate needs
- Real Estate Tax Savings – programs that provide tax savings for real estate development
