The “Invest in Marshall County” campaign has achieved early success, reaching one third of its goal since it was launched by the Marshall County Economic Development Corporation (MCEDC) last April. The campaign aims to increase private sector support for economic development. This financial support is imperative to MCEDC which will utilize the funds to retain, attract and expand business, as well as improve entrepreneurial and workforce development in Marshall County.
Forty businesses and organizations have made either financial contributions or donated in-kind services. These generous investors include banks, retailers, utility providers, and non-profits, among other organizations. The capital campaign committee, which is made up of government and business leaders from across Marshall County, acknowledges and thanks all that have committed their support.
According to the MCEDC, the recipe for success in economic development involves three components. The first is strong leadership in order to guide economic development efforts. The second is a comprehensive strategic plan which covers the organization’s goals, as well as the objectives that must be met to realize them. The final component is enough funding to sustain the strategic plan. The MCEDC has met the first two components, and intends to achieve the third through its current fundraising campaign.
Committed funds will be used to implement programs in the MCEDC economic development plan. More specifically, funding will allow for the execution of increased marketing of available sites and buildings, including a newly constructed 45,000 square foot shell building; the implementation of strategies to recruit a workforce demanded by our local employers; and the development of an entrepreneurial program linking resources to attract innovators and business start-ups.
Since MCEDC’s establishment in 2007, the non-profit organization has provided guidance and assistance in business retention, expansion and attraction resulting in new investments across Marshall County. In 2014 alone, seven existing businesses announced expansions totaling $50.5 million and 585 new jobs with an estimated payroll of $20 million. 2015 will likely see even more growth, due in no small part to private sector support through the “Invest in Marshall County” campaign as it continues toward its goal.
For more information on the capital campaign, please contact Jerry Chavez, Executive Director, at (574) 935-8499.