Messages

A Letter from the President

Founded in 2001 as a private sector / public sector partnership, GREDA is committed to our mission of providing leadership in the pursuit of economic growth and prosperity.

A primary responsibility of leadership is to articulate and promote a vision for the future. From an organizational (internal) perspective, GREDA will be focusing on four (4) goals during 2011:

• Investor Relations – Improving the flow of information to / from our current and prospective members.
• Strategic Planning – An objective evaluation of our resources, strengths and weaknesses.
• Board Member Orientation and Utilization – Harnessing and applying the expertise, interests and resources, that each contributes to our organization.
• Adopting / Implementing a Program of Work – Supporting and activating the themes of the Galesburg “Visioning Process” (desirable place to be, high quality infrastructure, educational opportunities, business development, expansion and retention, destination tourism, neighborhood improvements and attracting new entrepreneurs), combined with fundamental ED functions.

As a private organization, GREDA partners is committed to complementing and enhancing the efforts of our regions’ public funding partners. GREDA Board members will be assigned to one of six (6) teams and charged with responsibilities to focus on one of the following:

• Agriculture
• Educational Opportunities and Workforce Development
• Organizational Finances
• Regional High Quality Infrastructure
• Manufacturing and Logistics
• Small Business Development

Calendar Year 2011 begins with the stark realities of our U.S. (federal) Government facing an unprecedented $14 trillion dollar deficit and our state (Illinois) facing an estimated $15 billion dollar deficit.

An over reliance on public funds as a means of rejuvenating our regions’ economy will lead to unsatisfactory results.

A healthy and respectful private sector / public sector partnership provides the best course of action for our region and GREDA remains committed to implementing this approach on behalf of our investors.

- Thomas A. Schmidt, President

Message from the Chairman of the Board

I would like to thank our investors, community volunteers, our Board of Directors and the staff of GREDA for their continuing contributions this past year. As always, 2010 was an eventful year for our region and I’m proud to say our organization played an important role in many of our local achievements.

As I look back on 2010, several events are worthy of recognition including, but not limited to:

• Public Forums held in January and October, as well as a workshop on “Recovery Bonds” in February continued our commitment to keeping the public informed.
• A successful Business Retention and Expansion initiative involving 90 regional businesses highlighted the need for improvement in local internet speeds as well as the need to attract / develop high skilled labor.
• GREDA retained its current investor base, while expanding memberships including Henderson County, Carthage and the City of Galva.
• GREDA successfully sold our Galesburg Business Incubator building to China Railway Materials (CRM), one of the top 50 corporations in China.
• GREDA continued to provide assistance to the City of Galesburg by providing in-kind support for the TAA Grant program; marketing support for Intellihot; leadership on the Revolving Loan Committee, as well as the Business District Development and Redevelopment Commission and analysis of the RFP submissions in response to the IDOT feasibility study of the Logistics Park Galesburg (LPG).

Given that structure must follow STRATEGY, GREDA also achieved an effective reorganization of its human resources and has now assembled an effective team that is worthy of your investment and support.

2010 was a year in which local companies rejuvenated themselves by making additional investments in our region with the goal of responding to emerging needs in the market place. This trend bodes well for our local economy which continues its’ efforts to diversify and take advantage of opportunities in the emerging services sector, as well as travel and tourism.

Lastly, I want to underscore that 2010 was a year in which GREDA continued its commitment of working cooperatively with a variety of public partners, including Knox and Henderson Counties, the Cities of Knoxville and Galva, the Galesburg Sanitary District, Galesburg Community School District #205 and Carl Sandburg College. These public sector / private sector partnerships provide critical support to our regions’ economic well-being and I want to express appreciation for their ongoing support. I look forward to a great 2011!

Sincerely,

Gary Smith, Chairman of the Board