February 02, 2010 – Over $113 Million Reported In Economic Impact From REI Services
Rural Enterprises of Oklahoma, Inc. (REI) has released its year-end report on activities and economic impact from its services in 2009. Even during a year when economic uncertainty prevailed, we are pleased to report that the financial impact from our economic development services in 2009 was $113,236,031, said Tom Seth Smith, President & CEO. We served 6,898 people last year, affecting 1,265 jobs and much of the credit for such a positive report goes to our network of partners helping us carry out our programs statewide.
Highlights of the economic impact are as follows:
- $50,898,746 in business financing was secured for 51 Oklahoma businesses.
- A 49 percent increase was reported in number of families served through homebuyer assistance programs. In 2009, 382 Oklahoma families purchased the home of their dreams by utilizing REIs down payment and closing cost assistance programs.
Total project impact was reported at $41,214,298, a 71 percent increase over last year. - 3,703 small business owners received training through Womens Business Center (WBC) services. The WBC is funded in part by the U. S. Small Business Administration and services are available statewide from two locations: Durant and Oklahoma City.
- 54 minority-owned businesses received assistance through the Native American Business Enterprise Center (NABEC) resulting in economic impact of over $21 million.
- 285 jobs were affected through business incubators, Foreign Trade Zone and equipment program. The economic impact of the equipment program totaled $12,982.
We hope that our report will be a testimony to Oklahoma entrepreneurs that even when times are tough, there is help available to start or grow their businesses, Smith said. With good services and great partnerships, we are seeing an invigorated entrepreneurial spirit and we are seeing many Oklahoma families enjoying an improved quality of life.
REI is in its 28th year of providing business and community assistance services. Its mission is to create jobs through a diversity of economic development programs. Services are available from five locations: Durant, Alva, Lawton, Oklahoma City and Tulsa. Visit www.ruralenterprises.com or call 800-658-2823 for more information about the non-profit organization.