In March 2021 HEDCO made a $30,000 forgivable loan to Henderson Canvas Products: $5,000 for each of six jobs. More than five years later, the loan is still on HEDCO’s books as money owed.
This story is part of our review of every performance agreement the Henderson Economic Development Corporation has made. A performance agreement is a contract: HEDCO puts up sales tax money, land or work, and a business promises something in return, usually investment and jobs. We are not suggesting anyone did anything wrong. We are asking whether the public can see what was promised and whether anyone checks.
| The deal at a glance | |
|---|---|
| Recipient | Henderson Canvas Products, Inc. |
| Signed | March 2021 |
| Incentive | $30,000 forgivable loan |
| Promised in return | 6 jobs, at $5,000 per job |
| Status | Carried as $30,000 owed to HEDCO; $30,000 budgeted for 2025-26, none spent through March 31, 2026 |
| Agreement text public? | No |
What the record shows
HEDCO’s financial report through March 31, 2026 describes line 6116 as a “Job creation incentive, 6-jobs @ $5,000 /job,” a forgivable loan signed in March 2021, with “$30,000 forgivable Loan in A/R,” meaning HEDCO still counts it as money owed. The 2025-26 budget sets aside $30,000 on the same line.
What’s missing
What the public record leaves out
- Whether the six jobs were created, and when HEDCO checked.
- Whether the loan is being forgiven, repaid or written off, and when.
- Why the loan stayed open for more than five years.
Our ask
What would make this deal easy to check
- Report the job verification and close out the loan in open session.
- Set a deadline for closing out every forgivable loan and post the result.
Sources: HEDCO financial report through March 31, 2026 (line 6116).