Rockforward! Leadership Council Announces Investments & Endorsements From 2008 Emerging Opportunities Fund
FOR IMMEDIATE RELEASE
June 30, 2008
WHAT The Rockford Area Economic Development Council Rockforward! Leadership Council will host a news conference to announce investment and endorsement decisions from the 2008 Emerging Opportunities Fund.
WHEN Tuesday, July 1, 2008, at 1:00 PM Sharp
WHERE RAEDC Lobby, 100 Park Avenue, Suite 100, Rockford, IL 61101
WHY
The Rockforward! Leadership Council currently consists of 62 decision makers from top-tier private and public sector organizations within the Rockford Region, who are pooling resources together in support of the RAEDC’s new five-year economic development plan, Rockforward!. As one of five strategies of Rockforward!, the Leadership Council is managing the Emerging Opportunities Fund, which is $175,000 of seed money per year (2008 - 2012) that is designed for discretionary investment in mutually-agreed-upon, forward-thinking initiatives that will leverage positive change for economic development of the region.
Possible investment strategies for the Emerging Opportunities Fund include: (1) projects to move and shape public opinion on sensitive issues relating to the region’s capacity to grow such as infrastructure, education funding or other public policy opportunities; (2) focused efforts to remove stubborn or difficult barriers to growth and (3) large-scale projects that capture the community’s imagination and enhance quality of life for the entire region.
The Leadership Council met for the first time on October 10, 2007, immediately following the kick-off of Rockforward!. The Leadership Council met again on March 13 to determine its priorities for investment and on June 27 to discuss investment proposals and make decisions. A total of eight investment proposals were submitted by Leadership Council members for consideration between the March and June meetings. During that time, the Leadership Council utilized an online collaboration tool to engage in dialogue about proposals and narrow down to the top few proposals for consideration.
At their June 27 meeting, the Leadership Council voted to invest seed money from the Emerging Opportunities Fund in three proposed projects, and they voted to endorse a fourth proposed project without funding. Summaries of projects below categorized by investment priority; copies of the four investments proposals will be provided at the news conference on July 1 at 1:00 PM at the RAEDC.
INVESTMENT PRIORITY: PUBLICLY SUPPORTED EDUCATION
The Leadership Council agrees that the state of our education system remains one of the primary barriers to economic development in the Rockford Region. At the June 27 meeting, the Leadership Council voted to invest seed money from the Emerging Opportunities Fund in two projects proposed under the priority of “Publicly Supported Education” and to endorse a third project proposed under this priority without funding; see below:
Charter Schools Proposal
The Rockforward! Leadership Council voted to invest $50,000 in 2008 to support the hiring of a project leader to solicit proposals from existing charter school operators, identify a charter school operator who matches a charter team’s charter school vision, structure a relationship with the charter operator, and submit a charter school application to Rockford Public Schools District 205. Upon the District’s approval of the application, site selection, fundraising, and program development would commence. A governing board of the charter public school would be established, as well.
Connecting Regional Employers to Emerging Professionals
The Rockforward! Leadership Council voted to invest $75,000 in 2008 to support the hiring of a full-time director of a newly-established Rockford Area Career Clearinghouse to connect regional employers to college graduates. The Clearinghouse will be created by the Higher Education Alliance of the Rock River Region (HEARRR), which is a consortium of colleges (Rock Valley College, Northern Illinois University, Rockford College, and U of I College of Medicine). Services will include recruiting emerging professionals for regional jobs, identifying qualified applicants for professional positions for local businesses, creating and coordinating internships and apprenticeships among regional employers and college students, job preparation training, and resume development.
Public School Governance
The Rockforward! Leadership Council voted to endorse an effort to research, report, and select an alternative method of governance and/or appointment of the Rockford Public School District 205 Board of Directors. Research will include examination of “best practice” school governance models.
INVESTMENT PRIORITY: ENERGY ALTERNATIVES & GREEN DEVELOPMENT
With the ever increasing global demand for fossil fuels, the recent high costs of energy are unlikely to moderate (and could even escalate in the months and years ahead). Moreover, the condition of our environment plays an integral role in our economic future. For these reasons, the Leadership Council will explore both alternative energy resources and green development. At the June 27 meeting, the Leadership Council voted to invest seed money from the Emerging Opportunities Fund in one project proposed under the priority of “Energy Alternatives & Green Development;” see below:
Freedom Field Renewable Energy Project
The Rockforward! Leadership Council voted to invest $50,000 in 2008 towards creating an alternative energy “Center of Excellence” at the former auto auction building at the airport. Seed money will serve as matching funds to obtain a specific grant for hardware for solar-thermal equipment at the Center. The plan calls for a micro-grid that ultimately may provide energy around the airport or act as a back-up energy source.
Copies of the four investments proposals will be provided at the news conference on July 1 at 1:00 PM at the RAEDC.
INTERVIEWS
Interview opportunities at the news conference include Rockforward! Leadership Council Co-Chairs Dr. Bill Gorski, President & CEO of SwedishAmerican Health System, and Steve Ward, Regional President of AMCORE Bank; RAEDC Chairman of the Board John Chadwick, Vice President & General Manager of WREX-TV; and Leadership Council Members who proposed projects described above: Winnebago County Chairman Scott H. Christiansen, Northern Illinois University Executive Director of Community Relations Rena Cotsones, and City of Rockford Mayor Lawrence J. Morrissey.
ROCKFORWARD! LEADERSHIP COUNCIL INVESTORS
The Leadership Council currently consists of 62 decision makers from top-tier private and public sector organizations within the Rockford Region, who are pooling resources together in support of the RAEDC’s new five-year economic development plan, Rockforward!. A complete list of Rockforward! Leadership Council Investors will be provided at the news conference on July 1 at 1:00 PM at the RAEDC.
ABOUT THE RAEDC
The primary role of the Rockford Area Economic Development Council is to enhance wealth creation in the Rockford Region by marketing the area and helping employers retain and create quality jobs. The RAEDC works closely with many partners to serve as a one-stop resource for clients, to improve the competitiveness of the region and to engage the community in the work of economic development.
FOR MORE INFORMATION
Tonya Lamia, Vice President, Investor Relations
815.987.8118
tlamia@rockfordil.com
www.rockfordil.com/membership/rockforward/