The Marshall County Economic Development Corp. has launched its first capital campaign designed to boost private sector investment and strengthen the economy. The nearly $1 million, four-year effort will fund programs that focus on business expansion and retention. It will also involve establishing an Entrepreneur Center. The funding will help the organization implement its inaugural strategic plan, which was crafted last year. The EDC says the proposed center would leverage the area's dark fiber connectivity and nearby research institutions including the University of Notre Dame, Indiana University, Purdue University and the Rose-Hulman Institute of Technology.
Source: Inside INdiana Business
April 29, 2015
PLYMOUTH, Ind. – Bill Davis, Chairman of the Board of Directors of the Marshall County Economic Development Corporation (MCEDC), announces the launch of “Invest in Marshall County,” a four year campaign with the goal of increasing private sector participation to further grow and strengthen the county economy.
“Local governments across Marshall County have been very supportive of MCEDC's economic development program over the past seven years,” stated Mr. Davis. “In anticipating the need for private sector participation, the Board adopted a long range strategic plan that will guide economic development activities and growth for the next five to ten years.”
Economic development is extremely competitive. The most successful programs are based on a number of key elements coming together, and funding from both the public and private sectors is a must.
The strategic plan, as adopted, highlights four specific programs:
1. Business Expansion and Retention (BEAR) – Through the use of interviews with business leaders, the BEAR program aims to learn about the issues companies face so MCEDC can develop solutions. In particular, the BEAR program will uncover expansion opportunities, and assist in these expansions.
2. Business Attraction – MCEDC will identify and develop our county's business assets, and market them to targeted businesses in order to attract new industries to the area.
3. Entrepreneurial Hub – MCEDC, with area partners, will develop an entrepreneurial center, incorporating elements for success and allowing innovative business ideas to prosper.
4. Workforce Development Program – MCEDC, with area partners, will develop an immediate plan to address the availability of workers and ensure that our future workforce has the skills that our employers require.
“The timing of the campaign is critical as the national spotlight is on Indiana due to exceptional job growth and new businesses setting up operations across the state,” stated Kevin Overmyer, President of the Marshall County Board of Commissioners. “Now is the time to stop the economic development train in Marshall County with the implementation of strategies to expand existing businesses and bring new businesses to the area.”
The initial response to the campaign and support for implementing the new economic development direction is favorable. The following is a list of businesses that are committing to support the “Invest in Marshall County” campaign:
-Teachers Credit Union (TCU)
-Lake City Bank
-First Federal Bank
-First National Bank of Monterey
-First Farmers Bank & Trust
-St. Joseph Regional Medical Center
-Community Hospital of Bremen
-Hoosier Racing Tire
-Northern Indiana Public Service Company
-Marshall County REMC
-South Bend International Airport
-Swan Lake Resort
-Marshall County Community Foundation / United Way
-Bremen Chamber of Commerce
According to recent statistics, Indiana led the nation in manufacturing employment growth in 2014. This growth can be seen throughout our region and within Marshall County as MCEDC has assisted in seven expansion projects in 2014 from existing businesses. These projects are expected to create $50.5 million in capital investment and bring an estimated 585 new jobs to the county. As learned through discussions with numerous local businesses, additional capital investment and employment growth is expected to continue throughout 2015.
Since MCEDC's establishment in 2007, the non-profit organization has assisted in business expansion and attraction projects resulting in an estimated 1,500 jobs and more than $144 million in new investment across Marshall County.
For more information on the capital campaign, please contact Jerry Chavez, Executive Director, at (574) 935-8499.
About Marshall County Economic Development Corporation
The Marshall County Economic Development Corporation (MCEDC) is the lead countywide economic development organization servicing Marshall County, the City of Plymouth, and the Towns of Bremen, Bourbon, Argos, Culver, and LaPaz. MCEDC’s mission is to expand and diversify the economy of the county and its communities by fostering investment in new and existing businesses and creating entrepreneurial capacity. Visit MCEDC on the web at www.marshallcountyedc.org, and on Facebook, Twitter, and LinkedIn.
Source: The Marshall County Economic Development Corp.