Salt Lake City

Ocean City approved for EDLF Loan from Salt Lake City Economic Development

December 6, 2023

The Salt Lake City Council recently approved a $90,000 Economic Development Loan Fund (EDLF) loan for Ocean City Seafood Market. 

Working with the Business Development division of the Department of Economic Development, Ocean City Seafood Market received a $90,000 Economic Development Loan Fund (EDLF) loan to assist with purchasing a rooftop solar array and working capital for their new location.

“I am hopeful when I see businesses like Ocean City Seafood Market utilizing our EDLF program for renewable energy purposes,” said Salt Lake City Mayor Erin Mendenhall. “Local businesses like Ocean City not only showcase the resilience of our community but also demonstrate a commitment to sustainable practices that drive economic progress and environmental responsibility.”

Ocean City Seafood Market, which opened in 2014, specializes in Asian foods, international foods, and seafood. After nine years in business at its current location, Ocean City Seafood Market is opening a new location at 1701 S. State Street.

“I am delighted that our Business Development team was able to help Ocean City Seafood Market with the EDLF process,” said Lorena Riffo-Jenson, Director of Salt Lake City’s Department of Economic Development. “Their dedication to offering high-quality products and hard-to-find ingredients not only enhances our local culinary scene but also supports a diverse range of international cuisines.” 

Roberta Reichgelt, Director of Salt Lake City’s Business Development Division within the Department of Economic Development said, “The Business Development team was more than happy to help Ocean City Seafood Market navigate the EDLF process. Ocean City has been part of our community for nine years now and it’s vital that we support these businesses as they grow and change in our community.”

The EDLF aims to stimulate business development and expansion, create employment opportunities, encourage private investment, promote economic development, and enhance neighborhood vitality and commercial enterprise in Salt Lake City by making loans available to businesses. The program’s overarching goal is to invest in viable businesses that produce strong economic returns and provide positive social and environmental impacts. Learn more here

About Ocean City Seafood Market: Ocean City Seafood Market offers much more than fish. Ocean City Seafood Market is a specialty grocery store offering the highest quality gourmet items. Their high-end gourmet food shop carries hard-to-find items and cooking ingredients from many different countries. If you are planning a Middle Eastern, Asian, or global menu, they are eager to help you find the perfect ingredients. Learn more here.

About Salt Lake City Department of Economic Development: Formed in 2016, Salt Lake City’s Department of Economic Development is focused on building Salt Lake City as a vibrant, beautiful, prosperous, diverse, and authentic place – a place that is economically accessible to everyone. Known as the “Crossroads of the West,” Salt Lake City is strategically located for businesses to succeed. SLC DED works to streamline processes, provide excellent customer service, and offer an array of resources and services to recruit and retain businesses in the City, and ensure they have the tools to thrive.  Learn more here.

Tags: , , , ,

Share "Ocean City approved for EDLF Loan from Salt Lake City Economic Development" to your social network: