Founded as a quasi-public economic development organization in 1977, Madison Development Corporation (MDC) has a two-fold mission: 1) to create quality employment opportunities by making loans to hard-to-finance small businesses, and 2) to provide quality, affordable housing for area residents. MDC is credited with lending more than $20 million to over 300 businesses—creating 4,000 jobs, most paying at least twice the federal minimum wage. It also owns 206 affordable apartment units, many of which are in older commercial buildings that MDC redeveloped.
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