In this last fiscal year, funded CBOs potentially leveraged every CBED project dollar with an additional eight dollars, from over 30 different public, private, and community financing sources. This has resulted in additional resources being applied to economic development. In rural areas that were once dependent on sugar plantations, there has been an increased awareness and connection of communities to the economy. The 76 CBOs are anticipated to generate a minimum of 629 business start-ups and expansions as a result of their economic development initiatives. While the CBED revolving grant and loan fund addresses a heretofore unmet need, it is by no means complete.
Technical assistance is a major component in community capacity-building and organizational success.
This type of training helps to protect and increase the State's return on investment in the CBED revolving grant and loan program. Topics include business feasibility and planning for nonprofit and cooperative organizations, community economic development strategies, financial management, and grant and proposal writing. Its thirteen sessions thus far have attracted over 200 individuals from more than 150 different organizations. One to two delegates from each CBED recipient were encouraged to attend. CBED plays an important role in assisting communities to achieve their goals and vision through economic development.