My Perspective – Letters to the Rockford Region
Attracting New Businesses
I am often asked how the RAEDC attracts new companies to the Rockford Region given some of the challenges with which our region and our state must contend as well as the number of competing regions/states.
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The RAEDC and the Rockford Region
The RAEDC, as the Economic Development Agency for the region is also the data collection agency on all new capital investment in the area, retained and created jobs, and new or renovated space. As we enter into our Rockforward20/20 strategic plan, we will be informing all of you on project wins for our region as well as projects that we are working on with our various regional partners.
RAEDC Events
Annual Meeting & Dinner: Wed, November 16th
The Annual Meeting and Dinner has been confirmed for Wednesday, November 16th at Giovanni’s Restaurant & Conference Center. The RAEDC Board of Directors and Staff are proud to welcome Mr. David Storch, Chairman, President and Chief Executive Officer of AAR, as the keynote speaker.
AAR is a leading provider of diverse products and value-added services to the worldwide aviation/aerospace and government/defense industries.
Corporate Tables and individual reservations are available now. Seats are going quickly, reserve online at RockfordIL.com/AnnualMeeting2016.
For more information contact Jimsi Kuborn, Vice President of Investor Relations at 815-969-4259 or JKuborn@RockfordIL.com.
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Measurements
Regional Impact Measurements
These figures represent the collective successes during the new Rockforward20/20 strategic plan. The plan began in January 2016 and will continue through December 2020.
The results shown below are for the first 9 months of the 60 month Rockfordward20/20 strategic plan.
Two projects closed in September, both projects involved local manufacturing companies expanding their operations. One company expanded its facility in the City of Loves Park and the other company relocated within the City of Rockford.
RAEDC Updates
Supporting EDGE
With the EDGE program (Economic Development for a Growing Economy) set to expire at the end of 2016, the Rockford Area Economic Development Council and the Rockford Chamber of Commerce collaborated to develop and distribute a letter of support for extension of the program to each State Senator and State Representative who represent our region. The program provides tax credits to qualifying companies that can be applied against corporate income taxes over a period of 10 years. Since 2003, EDGE has supported 42 projects which committed to invest nearly $2 billion in the Northern Stateline Region, creating over 4,300 jobs. This is a critical tool used to attract businesses to our State, the Rockford Region, as well as when one of our existing companies may have the option to relocate to a different state. For details about this initiative contact the RAEDC.
Hannover Messe Trade Fair Results in Familiarization Trip
The four-day show in April resulted in 43 one-on-one meetings with European companies, of which four expressed interest in possibly locating a US operation in the Rockford Region. One of these companies visited the region in September and another company is considering a visit early next year.
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Comcast Newsmakers Interviews Jimsi Kuborn
Jimsi Kuborn sat down with Comcast Newsmakers to discuss the region’s momentum and how it is being talked about locally, state-wide and nationally. The community-wide collaboration in strategies, time, and investments increases the Rockford Region’s perception as an Opportunity City where people want to live, work, play, and invest.
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Comcast Newsmakers Interviews Mike Nicholas
During September Comcast Newsmakers met with Mike Nicholas to discuss different aspects of economic development. Mike focused on the current economic activity, employment situation, and jobs outlook for the Rockford Region.
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Jimsi Kuborn Provides an Update on the 2016 EOF Project
The Emerging Opportunities Fund (EOF) is designed for discretionary investment in mutually agreed-upon, forward-thinking initiatives. These initiatives will leverage positive change for economic development of the Rockford Region. Recently Jimsi Kuborn wrote an article for the Rockford Chamber of Commerce’s publication The Voice.
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Global Trade Park Update
The RAEDC staff has been facilitating a strategic plan with many partners including the Chicago Rockford International Airport and the City of Rockford to grow the Global Trade Park at the Chicago Rockford International Airport (GTP) which currently has had four organizations become members of the business association. The objective of the GTP business association would be to increase the awareness through the development of a corporate identity, marketing plan, collateral materials, and a website. The GTP has the potential to be one of the largest industrial developments in the Rockford Region and a major generator of jobs and economic growth. The Park consists of 7,100 acres making it one of the largest industrial sites in the Country. Of these 7,100 acres, roughly 4,000 acres are considered vacant/undeveloped land. To learn more about the opportunities in the Global Trade Park contact Mike Nicholas at the RAEDC.
Regional Wins
University of Illinois College of Medicine at Rockford Releases Economic Impact Study
The UIC Health Sciences Campus – Rockford significantly impacts the economy of the Rockford Metropolitan Statistical Area (MSA) through direct expenditures as a purchaser of goods and services.
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WNIJ Discusses Unique Factors of MRO
Chase Cavanaugh from WNIJ explores the unique features of the new MRO facility constructed at the Chicago Rockford International Airport (RFD).
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RVC Students Potential Employees at MRO
Chase Cavanaugh from WNIJ talks with Greg Dellinger, Director for Talent Acquisition Strategy from AAR Corp about the education to employment pipeline for Rock Valley College students.
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Recent Ranking Demonstrates the Value of Investing – Collaboratively
Last month Rockford, IL was ranked as the 6th fastest growing market for housing across the U.S. via data that encompassed 180 metropolitan areas looking at home price changes and unemployment rates. Jimsi Kuborn wrote an article for the Rockford Chamber of Commerce’s The Voice explaining how this is not an isolated factor.
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Regional Good News
10th Annual FastPitch Competition was a Colossal Success
First place winner, Michelle Gast with her beauty-related product, recoup BEAUTISCOOP, took home the $5,000 first prize. Thirty-four eager presenters shared their ideas, products, services, and apps vying for over $7,000 dollars in prizes.
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Swedish Delegates Visit the Rockford Region
This fall the Rockford Region will welcome nurses, nursing instructors, journalists, construction students and instructors as well as government officials.
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Field Fastener Named to Inc. 5000 List
Field Fastener Ranks 3,933 on Inc. 5000 List for 2016. Field Fastener (Machesney Park, IL), has been named one of the Inc. 5000 fastest growing private companies in the USA for the sixth consecutive year.
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RACVB launching Online Reputation Management Strategy
WREX interviewed John Groh of the RACVB and Jimsi Kuborn of the RAEDC, on the regional initiative supported by the 2016 Emerging Opportunities Fund.
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Upcoming Events
Celebrating 10 years of Growing Locally by Growing Globally – Oct 13, 5:30 – 7:30pm
The Rockford Area Economic Development Council is hosting an evening “Throwback Thursday” networking event, sponsored by PCI Pharma Services, to celebrate 10 years of collaboration with our Swedish partners.
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MFG Day Tours & Edge Factor – Oct 11, 8am – 2:30pm
In celebration of Manufacturing Day 2016, Superior Joining Technologies Inc. and manufacturers throughout the region will open their doors from 8:00 am – 2:30 pm to more than 500 students, parents, educators, civic leaders, business people and anyone curious to learn more about modern manufacturing.
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1 Million Cups – Oct 12, 9 – 11am
Every week, entrepreneurs present their startup companies to their communities and learn how their community can help support their business to flourish. These meetings are held on a weekly basis. 1 Million Cups is a free, national program designed to educate, engage, and connect entrepreneurs. Developed by the Kauffman Foundation, 1MC is based on the notion that entrepreneurs discover solutions and network over a million cups of coffee.
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2016 RSM Annual Rockford Manufacturing Summit – Oct 26, 7:30 – 9:15am
Attend the complimentary seminar on Wednesday, October 26 for breakfast and insights from Joe Brusuelas, Chief Economist, along with a review of our RSM Manufacturing Survey results and the projected future of manufacturing.
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Rockforward20/20
Rockforward20/20 represents a bold vision for our future, this aggressive plan will cultivate opportunities to create and retain over 10,000 jobs and significantly increase capital investment in the region.
Learn more at RockfordIL.com/Rockforward2020. If you have not set up a brief meeting to explore how you can get involved, contact Jimsi Kuborn at 815-969-4259 or jkuborn@rockfordil.com.
The RAEDC
The RAEDC often works behind the scenes due to the confidential nature of business projects. Plus, big deals take time: The average time from start to completion on the 24 project wins in 2015 was 329 days.
We are committed to persistence and continuity in our work: We market the Rockford Region to the world, influencing companies to locate or expand here. We support and promote growth within targeted industries through regional public-private collaboration. We assist prospective and existing companies by connecting them to resources for workforce development, available buildings, supply chain partners, incentives and more.
Together, we will continue the momentum into 2016 for an even stronger, more sustainable economy. Together, we will Trailblaze, Inspire Action, Align, Seed and Serve!
Michael Nicholas, President
MNicholas@RockfordIL.com
ABOUT THE RAEDC
The role of the Rockford Area Economic Development Council (RAEDC) is to collaborate with regional stakeholders to cultivate opportunities for primary job growth that increase the economic well-being of our region. The RAEDC markets the region to attract new capital investment, while assisting existing business with resources for sustainable growth. The RAEDC works closely with many partners to improve the competitiveness of the region by taking what it learns from the region’s employers and engaging the community in the daily work of economic development. As the economic development organization for the region, the RAEDC also serves as the area’s data collection agency on all new capital investment, retained and created quality jobs, and renovated commercial/industrial space.
Rockford Area Economic Development Council
100 Park Avenue, Suite 100, Rockford, IL 61101 | information@rockfordil.com
T: 815.987.8118 | www.RockfordIL.com
