Thanksgiving has always been one of my favorite holidays. Stripped (for the most part) from the commercialization that has tinged Christmas, the day feels like it’s more about family and friends than anything else. And if we are doing it right, we are taking some time to reflect on our blessings. Late November is also “budget time” for me – we adopt our annual budget just after Thanksgiving. When I sit down to prepare the budget for our Board’s approval, I always start with revenue. This, of course, is the number that allows all the work to happen. But in addition to providing me with a basis to make decisions around expenses, estimating revenues also gives me a chance to give thanks for the breadth and generosity of Greater Peoria EDC’s investors. They truly are a gift to both our organization and our community.
For 2025, just over 50% of Greater Peoria EDC’s budget will come from “voluntary investment.” These are cities, counties, companies, and even a few nonprofit organizations who choose to invest in the organization. Investment levels range from $100,000 to $1,000, but each is equally valuable to me. I enjoy connecting with each of our members throughout the year to share with them how important they are to our work and to share with them how we are leveraging their contributions to improve our region.
Our investors understand that their contributions are not transactional, and they don’t expect equal value in return. Rather, they appreciate how they will benefit from a stronger regional economy. When there are more jobs, higher wages, and greater profits, everyone wins. Our local governments’ budgets are buoyed by higher property values and greater spending. Construction companies benefit from corporations expanding. Banks see a better bottom line from increased economic activity. In regional economic development, when one wins, we all win.
While fundraising is one of my least favorite tasks, I do enjoy sharing with others how important the work of Greater Peoria EDC is and hope they recognize why it is important to support financially. The support of our investors has been transformed into so many outcomes: the opening of Distillery Labs; thousands of students attending Career Spark; the completion of a workforce study and a targeted industry analysis; the launch of a talent concierge program. Those are just a few of our accomplishments, but none of them would happen without our great investors. As I look back over this past year and look ahead to the next one, I am so thankful for the gift of those organizations that see the value of regional economic development. You can find a list of all our investors here. If you find yourself in the same room as one of them, please thank them, too. Their investment in Greater Peoria EDC is also an investment in you.