2008 Work Plan 

B.1 - Increase active business membership to 120 by December 2008 (as of 12-31-07, MAEDC had 89 active members). Establish a membership committee of the board of directors to oversee this effort.

B.2 - With assistance from the membership committee, increase income from dues paid by business members and community organizations to $200,000 in 2008 (membership revenue was $155,000 in 2007).

B.3 - Continue to encourage ACH automated payment system for borrowers and members of MAEDC, and provide a ¼% interest rate reduction for borrowers that choose to participate (as of 12-31-07, one half of MAEDC’s loan borrowers were participating in the ACH incentive program).

B.4 - Use 2008 Annual Meeting to recognize members and directors, showcase local businesses, and highlight MAEDC achievements.

B.5 - Using the “content management system” developed by Pyron Technologies, continue to improve MAEDC’s website and utilize the system’s intranet capabilities to improve organizational efficiency.