Shawnee is considering a series of changes to the unique Shawnee Entrepreneurial and Economic Development program that allows it to provide business loans to promote employment in the city.
The discretionary fund, which has been in place since 2012, is a city-led effort with the Shawnee Chamber of Commerce that focuses on job creation and retention in the city.
“It has also been useful in attracting new employers that have led to millions of dollars of investment and the creation of hundreds of jobs in the community,” city manager Nolan Sunderman wrote in a memo to the council. Shawnee Chamber of Commerce executive director Ann Smith-Tate reviewed a list of proposed revisions to the program at the council’s committee meeting Feb. 5. The recommended changes include supporting reinvestment in downtown Shawnee and the Nieman Road corridor, especially for restaurants and retail.
Another change would require the city council to approve more than $50,000 in assistance given to any participating business. SEED loans must also be capped at $250,000 based on the number of jobs and average annual salary up to a three-year period.
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