Logan County Alliance
What is Economic Development
Part 1 in a series by CEO Andi Hake

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[December 09, 2015]  LINCOLN - One of the services the Logan County Alliance offers to the City of Lincoln is Economic Development. The Alliance provides these services under a partnership funding agreement that specifically outlines the services provided by the Alliance in exchange for the fees paid by the City.      Click here to view ED agreement with the city of Lincoln.

The funding agreement stipulates many things the Alliance must do in order to satisfy the economic development: work with the retail consultant company the City hired; counsel small businesses and start-ups; promote the City of Lincoln as a location for business operations; plan and implement promotional activities, workforce development, and the retention and recruitment of businesses.

When people talk about economic development, very often they speak about “creating jobs”. We often hear many politicians throwing this term about during campaigns. I assure you that politicians and economic developers alone do not create jobs. Businesses create jobs. What our elected officials and economic developers can do, is create pro-business environments that help businesses create jobs. Yes, creating jobs is one part of economic development, but it is the result of the work economic developers do in partnership with cities and businesses. One way to create jobs, and probably the most commonly thought of way, is to recruit new businesses to a community.
 


Another way to create jobs is to work on retention and expansion of existing businesses in our community. “Retaining and expanding businesses yields a better return on investment than recruiting new companies,” according to “EdNow” an economic development publication produced by the International Economic Development Council. “Successful communities understand that they need to invest significant resources in helping existing businesses grow and survive.”

The Logan County Alliance and City of Lincoln acknowledge the importance of having a tool to establish and enhance ongoing business relationships with existing employers in the community. It is important to recognize that these employers have changing business conditions and threats that may jeopardize their continued presence in Lincoln. There are also expansion opportunities that may exist, and both the City and Alliance believe that it is best to position the City and Alliance to offer their services to influence their investment decision in the community’s favor. “Thwarting the threat of existing employers closing their doors and working with them to encourage expansions in Lincoln will only happen if we make a sincere and aggressive effort to assist our employers,” said Andi Hake, President and CEO of the Logan County Alliance.

The Development Council of the Alliance spearheads the organization’s economic development efforts and will lead the local business retention and expansion activities. The Council is made up of: Seth Goodman, of ME Realty; Julie Tarter, owner of Mary Todd’s Hallmark and Merle Normal; Keith Snyder, former Mayor of Lincoln; David Lanterman, downtown business and property owner; Clay Johnson, City Administrator; and Greg Basford of Heritage Packaging. The Council has created a retention plan that the Alliance will begin executing this month. The plan is continuous and designed to obtain information that will help the Development Council better assist businesses, identify areas of concern, and pinpoint potential threats as well as potential opportunities.

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The group will be collecting data in the following key areas: updated contact information (often leadership in businesses change and this data will help the Alliance and the City to stay on top of any such changes); products produced, services offered, and markets served. Questions around these areas will help the group have a better understanding of what the business is and who they serve. Knowing this information can create potential opportunities of alignment and/or growth.

Another important area to understand are barriers and threats faced by the businesses. It is crucial for the Alliance and City to understand any obstacles that may be hindering growth or creating frustrations for businesses. Questions will be asked about infrastructure needs and realities and legislation or regulations at the local, state, or federal levels.

Another important topic that will be discussed during these site visits is workforce. The Alliance has been hearing for a long time that workforce is an issue for our employers. This issue is not isolated to Lincoln, IL. It is a nation-wide trend that many communities, and especially rural communities, are facing. To address the problem, an understanding of specific workforce issues is required.

Lastly, technology will be discussed with each business. Understanding each business’ reliance on technology, any recent change in that reliance, and their expected growth in technology usage is important information to learn.

Since much of the information discussed will involve proprietary matters for each business, the specific data collected from the individual businesses cannot be released for public consumption. The data collected, however, will be aggregated to create a strong, composite picture of the business climate in Lincoln.



The Alliance Development Council has identified thirty-four businesses to visit by the end of February. The businesses are in the categories of: Retail, Hospitality, Healthcare, Transportation, Manufacturing, Property/landowners, and Specialty Areas. The Development Council has created teams to meet with these businesses to ensure they work efficiently.

If a business in Lincoln would like a retention visit and has not been contacted, or if someone wants more information about the retention plan, they may contact Andi Hake at the Logan County Alliance at 217-735-2385 or andi.hake@ lincolnillinois.com

[Andi Hake, CEO & President, Logan County Alliance]

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