Happy 100th: This year marks a pretty big milestone for a cornerstone of the Greater Peoria economy. In 2025, Caterpillar turns the big ONE-ZERO-ZERO. Not many businesses make it to 50 let alone 100. According to the U.S. Bureau of Labor Statistics, the average business lifespan is around 8.5 years, with roughly 20% of businesses failing within their first year and about 50% failing within their first five years. And even fewer businesses have had the sort of impact on a community as Caterpillar has had on Greater Peoria. A whole series of celebrations will be held over the course of the year. You can read all about it in this nice write up by WCBU. And if podcasts are more your thing, check out GPEDC board member Henry Vicary along with Lee Fosberg in a Greg & Dan Show interview from this week. All the official stuff can be found here. Happy birthday, Caterpillar!
Lunch & Learn: GPEDC’s Workforce Solutions Team will be hosting another Lunch & Learn on Thursday, January 16th, at Distillery Labs (201 SW Adams) from 11:00 am – 1:00 pm. Lunch will be a free personal pizza provided by our friends at Prohibition Pizza. Attendees will discover how Junior Achievement has helped employers reach tens of thousands of students for nearly a decade to help them understand career pathways, different industries in the region, and how to get on track to do the work that sparks their passions. They will also hear cases from other employers about their success in partnering with Junior Achievement. If your organization has an aging workforce, is struggling to attract younger workers, or has more openings than applicants, this event is perfect for you. Click HERE if you wish to RSVP – and feel free to forward this invite to anyone in your network who could benefit from this information. The event is FREE, and space is limited, so RSVP at your earliest convenience.
Bank Tank: For the third year in a row, Fortress Bank is hosting its Bank Tank Pitch Competition. But this year, the event is being held in our own backyard. It’s only fitting to host it here: In the competition’s first two years, Peoria has pretty much dominated it. Five out of the eight finalists from the two years combined and BOTH of the competition winners are Distillery Labs gBETA accelerator alums. These companies won a combined $38,000 the past two years to support their early-stage businesses. The event will be held on Wednesday, February 19 from 5 pm – 8 pm at Distillery Labs. Startups are encouraged to sign up to share their vision in front of a panel of judges for the chance to win $20,000. The deadline is January 17. Register here. And the rest of us can be part of the live audience that listens along with the judges. RSVP is free but required here.
gBETA: Seems like the best way to win money in a pitch competition is to join gBETA. And the timing is perfect – the next cohort of startups is starting to form. This is a free, seven-week accelerator for entrepreneurs with scalable business ideas who are looking to refine their concept and prepare for pitching to investors. Please spread the word to your friends, family, colleagues and others who might have that great idea and want to take the next step forward. Registration can be found here.
Have a great weekend.
Chris