CEDS Update: Each year we put together a recap of the highlights of progress towards the goals outlined in the Big Table Comprehensive Economic Development Strategy (CEDS). This five-year plan is entering its final year, but 2024 saw a lot of great momentum including the opening of Distillery Labs, the 7th annual Career Spark, the award of a brownfield assessment grant, downtown and Main Street improvements, and so much more. While GPEDC is charged with developing and stewarding this broad plan, we are only a part of its implementation. So when you read the recap, you are going to see successes accomplished by a variety of partners but all working toward one set of goals. And the recap is just the highlights. Check it out here.
EDA Reauthorization: Speaking of CEDS, GPEDC is able to do that work through financial support from the US Economic Development Administration (EDA). On top of the Partnership Planning Grant, EDA has invested over $20 million in Greater Peoria in the past five years, including the IT Workforce Accelerator, Distillery Labs and ICC’s Workforce Sustainability Center (just to name three). This week, EDA was reauthorized as part of the Water Resources Development Act of 2024 – the first reauthorization of the EDA in over 20 years. The bill and EDA’s reauthorization received broadly bipartisan, and nearly unanimous, support including all of Greater Peoria’s local legislators. Beyond reauthorization, the bill makes some great improvements and further investments. This includes greater funding levels for core EDA programs; increasing the baseline federal portion of grants to 60% (from 50%); and broadening EDA’s ability to invest in broadband, workforce training, and pre-development projects. More details will emerge in the coming weeks and months, but this is great news for economic development in our region (and nation).
Giving Thanks: As the year wraps up, I wanted to take an opportunity to thank a few groups of people. First, if you are reading this and are an investor in this organization, we truly couldn’t do this without you. When I took this job nearly 7 years ago, I didn’t know exactly what I’d be getting myself into (even though I’d worked with GPEDC for the previous dozen years). But the support we receive from the community, both financially and otherwise, is simply amazing. Second, a big thanks to my Board of Directors. Drawn from our investor members, this group helps set the agenda and makes sure the organization keeps heading in the right direction. Finally, thank you to the amazing team here at GPEDC. I am blessed to be surrounded by a tremendous group of professionals, some with decades of experience and others just starting their career in this field. All are passionate and dedicated public servants. They make me look good every day and cover for my weaknesses as a leader.
However you might celebrate the end of the year, I hope you are surrounded by friends, family, laughter and peace. We look forward to picking up where we left off in 2025!
2024 office and Holiday shoot
Chris