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Oakland Countys BFC/EDC Celebrate 30 Years as Total Investment Tops $1.2 Billion

Public Date: 6/9/2011 12:00 AM
Contact: Steve Huber, Marketing & Communications Officer, Oakland County Department of Economic Development & Community Affairs
Phone Number: 248-858-1848

WATERFORD, Mich. -- Oakland County’s Business Finance Corporation (BFC) and Economic Development Corporation (EDC) amassed some pretty impressive numbers in their first 30 years in business: total investment of more than $1.2 billion and more than 26,000 jobs created or retained.

The BFC and EDC celebrated their anniversaries Thursday while honoring employers and lenders during a reception at Oakland Hills Country Club in Bloomfield Hills. About 350 people attended the event and as did representatives from 27 area businesses that were honored, 25 of which operate in Oakland County.

“The BFC and the EDC have been transformational in their impact on the financing of Oakland County businesses for 30 years,” Oakland County Executive L. Brooks Patterson said. “Congratulations to Mary Langhauser and her whole Oakland County Financial Services team for hard work they do.”

Langhauser, who supervises the financial services team for the county’s Department of Economic Development & Community Affairs, said she expects both programs to get stronger as they move into their fourth decade.

“Other programs have come and gone but these are the true work horses,” Langhauser said. “Thirty years is a long time. It’s a lot of investment.”

The BFC and EDC assist companies with fixed asset financing. The two programs have financed more than 500 projects since the beginning.

Six members of the governing boards for the BFC and EDC were honored for their 30 years of service: Peter Christiano, Ted Dziurman, Martin Hollander, Linda Russell, Robert Schwartz and Fred Seeley. J.P. Morgan Chase Bank was chosen as Bank of the Year and Clarkston State Bank was named Community Bank of the Year.  A complete list of the winner can be found at www.globaloakland.com.