North Bay Business Journal

Following a year when Sonoma County businesses provided some of the fastest job growth in the nation, local economic-development groups are rolling out initiatives to continue the momentum in 2013.

SONOMA COUNTY — Boosted by wine, tourism and a growing medical device sector, Sonoma County’s economy enters 2013 with “new positive momentum” and is expected to outpace the state and national averages for job growth next year, according to a quarterly economic report prepared by the Sonoma County Economic Development Board.

NORTH BAY — While the Federal Reserve’s continued effort to keep interest rates as low as possible has helped many borrowers to refinance existing debt or purchase property in 2012, that same economic policy has also narrowed margins for financial institutions and investors and created a period of historic challenge for firms of all sizes in the North Bay and beyond.

NORTH BAY — Oakland-based microlender Oakland Business Development Co. is now actively pursuing borrowers in the North Bay and beyond, bolstered by a new loan program backed by the U.S. Small Business Administration and by demand created in a financial climate that has pushed traditional lenders away from smaller loans in recent years.

Sonoma County businesses and lenders are co-dependent in the region’s economic recovery, with a first-ever countywide report showing that a financial sector that was hard-hit during the recession has been seeing opportunities for lending amid the renewed activity in other industries.

The newly formed economic development effort will partner with other groups during the year.

NORTH BAY — Tax exempt bonds and loans are increasing as an alternative way for industrial, manufacturing and nonprofit construction projects to get financing.

SONOMA COUNTY – The Sonoma County Economic Development Board’s 2011 work plan introduces several new initiatives that build on past efforts made possible by a major new grant.

The Small Business Jobs and Credit Act of 2010 signed into law last September provides a tax break for the self-employed on health care costs.

NORTH BAY – While some dark clouds remain on the economic horizon, North Bay economists and business climate watchers are increasingly bullish about the 2011 regional forecast.

When the iPod in shuffle mode came upon the Moody Blues album “To Our Children’s Children’s Children,” it seemed a perfect analogy for today.