As per the nature of economic development, risk will sometimes be realized and ventures will fail. MedVision, for example, came to Minot in 1997 and left a year later after only creating several jobs. It took several years for the MAGIC Fund to recover the $2 million loan in full. WebSmart Interactive, initially a provider of telemarketing sales verification was founded at the height of the internet boom. After a short period of rapid growth WebSmart began outgoing sales calls, the primary client of which was a Georgia-based company. This company eventually failed to forward payment to WebSmart, forcing an abrupt closure of the company. At the outset of 2001, after the failures of aforementioned businesses, there was essentially no money to work with in the MAGIC Fund. A measure was proposed to divert money from a one percent sales tax for Northwest Area Water Supply and extend the fund but it was defeated.