The purpose of the Clay County, Iowa Revolving Loan Fund is to further economic development through joint private and public investments which involve the creation of new jobs and income, or the retention of existing jobs and income.
The Clay County Revolving Loan Fund committee and the Clay County Board of Supervisors must determine that an economic benefit to Clay County will reasonably be accomplished before providing any RLF financial assistance.
The committee shall give consideration to factors including, but not limited to, the following: 1. The loan fund will be used to assist existing or start-up businesses including areas of manufacturing, retail, and/or service located in Clay County.
2. Revolving Loan Fund resources may be used to attract businesses or to expand existing businesses.
3. Economic impact on Clay County from the loss of jobs associated with employers leaving the county or ceasing operation.
4. Economic impact on Clay County from the creation of new jobs or retention of existing jobs.
5. Quality of jobs and wages paid will be a consideration
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