Rockford Area Economic Development Council Celebrates Successful Rockforward! Capital Campaign at 2nd Quarter Investor Meeting
FOR IMMEDIATE RELEASE
June 27, 2008
Rockford, Illinois - Nearly 300 business and community leaders met at Cliffbreakers this morning to celebrate the successful fundraising campaign for Rockforward!, the Rockford Area Economic Development Council’s new five-year economic development strategy for 2008-2012. The event also featured a review of Rockforward! initiatives and recent results.
“The success of the capital campaign speaks volumes not only about investor confidence in the RAEDC and the Rockforward! plan, but also of the perception of our region’s vast potential for economic development,” says John Chadwick, RAEDC Chairman of the Board.
As of June 2008, 220 organizations have committed over $1.9 Million in support of Rockforward!, which is a 28% increase over the original annual goal of $1.5 Million. With continued support by investors, the RAEDC will implement Rockforward! strategies with the backing of a $9.6 Million, five-year budget.
“As we celebrate the success of the capital phase of Rockforward!, it’s really a pat on the back to the investors who have dedicated their time, energy, talents, and capital to the vision of a better economic future for our region,” says Janyce Fadden, RAEDC President.
Rockforward! is a focused effort on the following goals: creating a thriving business climate, targeted marketing and recruitment, building a world-class business infrastructure, developing a proficient workforce, and leveraging positive change through an Emerging Opportunities Fund.
“The Rockforward! initiative is a process that will evolve and grow over the next five years and beyond,” says Mark Podemski, RAEDC Vice President for Development. “Even though we are only six months into the program, we have witnessed measureable progress towards our goal of building $2.8 Billion of new wealth and over 10,000 new jobs in the Rockford Region by 2012.”
ROCKFORWARD! INITIATIVES & REGIONAL SUCCESSES
Thriving Business Climate
The RAEDC recently concluded the “Go Global or Get Left Behind” two-day event, wherein global trade specialists offered focused seminars on how local businesses can increase results through exporting and importing. Also, several announcements have been made by educational institutions, industrial companies, and commercial organizations of investment or additional investment in the region.
Targeted Marketing & Recruitment
The RAEDC has been focused on working to improve Foreign Direct Investment from China. Eric Voyles, RAEDC Vice President of National Business Development, recently visited with the Chinese consulate in Chicago to lay the groundwork for a shared industrial and cultural investment strategy, including a trade mission to China. He was also actively involved in the recent UPS operations tour, designed to promote the advantages of relocation near the UPS hub.
World-Class Business Infrastructure
The RAEDC is strategically positioned to work closely with organizations including the I-39 Logistics Corridor Association and the Northern Illinois Commuter Transportation Initiative (NICTI). Lobbying efforts helped lead the NICTI project team to recently select a local preferred alternative, an important step towards enhancing commuter transportation in the region.
Workforce Development
Through active support of the Community Education Partnership, the RAEDC continues to work to enhance educational opportunities and performance to meet the needs of regional employers. Plans are also underway for LiveBig Weekend 2008, which will take place over Thanksgiving weekend as a targeted effort to attract young professionals back to the Rockford Area.
Emerging Opportunities Fund
The Rockforward! Leadership Council convened during the first quarter to determine priorities for investment from this year’s Emerging Opportunities Fund-$175,000 of discretionary capital to leverage positive change. The Council will meet again today to make investment decisions for projects that support the four priorities for investment: Publicly Supported Education; Leverage Transportation Access; Energy Alternatives and Green Development; and Regional Collaboration.
EVENT SPONSORS
The event was sponsored by RAEDC Rockforward! President’s Circle Investors: Alpine Bank; AMCORE Bank; City of Rockford; Comcast; ComEd; First Rockford Group; Greater Rockford Airport Authority; IBEW / NECA; IronWorkers Local Union 498; JP Morgan Chase; Maverick Media; Northern Illinois Building Contractors Association; OSF Saint Anthony Medical Center; Rockford Area Realtors; Rockford Health System; Rockford Register Star; SwedishAmerican Health System; UPS; Village of Machesney Park; WIFR-TV; Winnebago County; Woodward; WQRF TV / WTVO TV; and WREX-TV.
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.