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In order to get a City Economic Development Loan, does my company have to agree to hire more people?

April 26, 2017agree city COMPANY Development Economic hire loan people

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In order to get a City Economic Development Loan, does my company have to agree to hire more people?

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The program calls for the creation of 1 new, full time, permanent job for every $35,000 loaned. That means if the loan is for $105,000, the business will be expected to create 3 new, full time, permanent jobs. Businesses are given a 3-year period to create the jobs.