In June of 1982, local public officials, business owners, bankers, and private citizens worked together to establish Greater Eastern Oregon Development Corporation (GEODC) as a private non-profit corporation, with the intention of assisting, supporting, and promoting economic growth.

In the same year, the U.S. Small Business Administration approved GEODC as a Certified Development Company (CDC), allowing for GEODC to begin administering the SBA 504 loan program in Gilliam, Grant, Harney, Malheur, Morrow, Umatilla, and Wheeler counties.   And in 2007, GEODC was granted authorization to administer this program statewide.

In 1993, the U.S. Department of Commerce-Economic Development Administration (EDA), designated GEODC as a federal Economic Development District.  This district served Gilliam, Grant, Morrow, Umatilla, and Wheeler counties.  In 2001, the district was expanded to include Harney and Malheur counties.  With this designation, GEODC assumed the responsibility of the EDA Revolving Loan Fund.  GEODC is now one of only eleven Economic Development Districts in the State of Oregon.

In the following years, GEODC expanded their lending programs, to include the U.S. Department of Agriculture-Rural Development Intermediary Relending Program, Regional Strategies Revolving Loan Fund, Native American Entrepreneur Revolving Loan Fund and several additional small revolving loan funds, each serving all or part of the GEODC district.

Since 1999, GEODC has provided administrative services and acted as fiscal agent for multiply agencies, including Oregon Department of Transportation (ODOT) and the Northeast Regional Housing Program.