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The Development Company |
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The Grand Teton Surgical Center was opened in late 1999. The facility was created by three doctors, Gary Wallace, Eric Wingerson, and Paul Hendrix. The center does generalized surgical procedures. The project was estimated to create 11 new full-time positions, and after two years of operations has created 8 new positions. They continue to grow and provide a good service to the community. The project consisted of the following costs: 1) Land Purchase of $103,389; 2) New Construction of $583,000; 3) Equipment Purchase of $482,000; and 4) Soft Costs of $65,611. These costs are eligible costs in the SBA 504 loan program. The project was financed with the following partnership: 1) East-Central Idaho Development Company lent $431,900 (35%) through the SBA 504 loan program; 2) Western Bank lent $617,000 (50%); and 3) The Borrower injected $185,100 (15%) into the project. Each component of the financing was an integral part of the project. Without each part this project might not have happened. The project has provided additional jobs to the community, and additional tax base to the federal government, the state government, and the local community. If you have questions as to how your project might be helped with this program, please feel free to contact us at (208) 356-4525. |
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