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News story published on 12/21/2006
By Scott Miller
Pantagraph Publishing
BLOOMINGTON, IL -- McLean County businesses and governments invested nearly $3.2 million in a plan to stimulate the local economy, the Economic Development Council of the Bloomington-Normal Area announced Thursday.
The amount exceeds the organization’s $3 million fund-raising goal, said EDC Executive Director Marty Vanags.
“The important thing to remember is that these are pledges. These investors will review and scrutinize our progress,” he said.
If successful, the pledges could generate 1,000 new jobs paying at least $51,000 a year, more than 900 indirect jobs in the service sector and a total economic impact of around $258 million in the community.
The $3.2 million, which covers five years of EDC expenses, will be used for marketing efforts, business loans, job-retention programs, capital investment, industry analysis and other programs under the organization’s Navigating a New Direction Campaign. To read more on that program, visit, www.bnbiz.org/Campaign.
Vanags hopes to generate enough contributions in coming years to maintain a $650,000 a year budget after the $3.2 million dries up in five years.
The overall goal is to improve McLean County quality of life to attract new employers and supplement the growth of current businesses.
“A rising tide raises all ships,” Vanags said.
The money has already helped Vanags double his workforce.
He hired Christina Rogers from the McLean County Chamber of Commerce in November to handle government and community relations for the EDC. He also hired a real-estate specialist to identify development opportunity and a business-retention professional to assist the growth of existing McLean County employers. In the future, Vanags may hire a full-time fundraiser.
The employees join Vanags and executive assistant Brooke Weishaupt on the full-time EDC staff.
Soon, the EDC will launch its “One Voice” campaign, an effort to bring community leaders and business owners together to lobby federal and state governments for money to assist local projects like a business incubator for startup companies, the Heartland Community College Workforce Development Center, the Bloomington Cultural District and the multi-modal transportation center in Normal.
Vanags and a group of business and community leaders plan to go to Washington D.C. in March to lobby together as “one voice” for the betterment of McLean County.
About 100 large and small private Twin City businesses have invested in the campaign, as have the city of Bloomington, town of Normal, Central Illinois Regional Airport, Illinois State University, Illinois Wesleyan University, Heartland Community College and McLean County.
“We’re just kicking this off. This is just the beginning phase of this. This is not just a one-time deal. This is a long-term initiative,” said Dick Eikenberg, president of Flatlander/Business Builders in downtown Bloomington and chairman elect of the EDC.
“Most of our jobs, we’re going to have to grow locally.”
Copyright © 2006, Pantagraph Publishing Co. All rights reserved, Reprinted with permission.
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