Wells Fargo Helps Manufacturers

Feb. 14, 2013 - PRLog -- Regional manufacturing firms will reap the benefits of a $25,000 Wells Fargo grant awarded to the Economic Development Collaborative-Ventura County. The Wells Fargo Economic Opportunity Grant helps spur job creation through small business development funds. As a grant recipient, EDC-VC will increase its service to the area’s manufacturing sector by providing direct technical assistance and consulting to 30 firms.
The goal for the program is to help create at least 40 jobs, retain 10 or more at-risk jobs, provide worker training services to eight firms, organize three business forums throughout the county and sponsor two manufacturing executive round table meetings. EDC-VC will prioritize assisting firms in Fillmore, Santa Paula, Oxnard and Port Hueneme, though services will be provided countywide.

“Wells Fargo understands the importance of workforce development and helping create sustainable economic communities in our urban and rural areas that have been hard hit with unemployment,” said Reza Razzaghipour, Wells Fargo community bank regional president for the Pacific Coast. “These grants will go a long way to help strengthen and reinforce the efforts of these organizations as they focus on creating job growth in their communities.”

The small business sector was hit hard by the recession, particularly in the manufacturing industry, noted EDC-VC president/CEO Bruce Stenslie. One contributing factor was small business owners’ lack of resources that contributed to their greater risk for collapse and job loss.

“The funds from this grant, along with Small Business Administration and Employment Training Panel funds, ensure that our region’s small manufacturing firms have access to the resources that will help them grow and thrive,” said Stenslie.

Wells Fargo selected EDC-VC to participate in the program because it facilitates partnerships and networking within the cities of Ventura County through its programs and services and through its collaborative efforts with the Workforce Investment Board of Ventura County.

The SBDC is funded by the SBA and provides professional business assistance at no cost to businesses. Participating businesses are required to follow a well-defined scope of work and report their economic successes. These SBA milestones are defined as job creation, increase in sales, capital investment, jobs retained and business started.

EDC-VC is a private, nonprofit organization that serves as a business-to-government liaison to assist businesses in Ventura County by offering programs that enhance the economic vitality of the region. For more information about the Small Business Development Center, loan programs, manufacturing outreach and international trade program, or other services available to small businesses through EDC-VC, contact Bruce Stenslie at 805-384-1800 ext. 24 or bruce.stenslie@edc-vc.com. Or visit www.edc-vc.com.