Greater Owensboro Economic Development Corp

Overview

The Greater Owensboro Economic Development Corp is a nonprofit organization classified as a 501(c)(6), focusing on business leagues, chambers of commerce, real estate boards, and similar entities aimed at improving business conditions[1]. Nonprofit donations to this entity are not tax deductible[1].

Mission

The mission of the Greater Owensboro Economic Development Corp is to promote, encourage, and solicit new and expanded industrial facilities in the Owensboro-Daviess County area[5].

Economic Development Initiatives

The organization plays a pivotal role in fostering economic growth and development in the region. It collaborates with various entities to provide incentives for businesses, including tax credits, loan programs, and training initiatives[3].

Business Services and Programs

The Corp supports business innovation through initiatives like the eMerging Ventures Center for Innovation. This center fosters technology-driven industries and provides services to startups and existing businesses[2]. Additionally, it offers programs such as the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds Program, which supports high-tech businesses[2]. The Corp also partners with the Small Business Development Center (SBDC) to offer consulting and training services for entrepreneurs and small business owners[2].

Regional Development

Owensboro is strategically located on the Ohio River in northwest Kentucky, offering unique advantages for industrial and commercial development[4]. The area's infrastructure supports emerging industries, including biotechnology and pharmaceutical manufacturing. Companies like Kentucky BioProcessing have established operations in the region, leveraging innovative plant-based technologies to produce high-value proteins[2].

Financial Overview

The organization primarily relies on contributions as a source of revenue. In recent years, contributions have constituted over 97% of its total revenue[1]. The Corp's financial management does not include executive compensation, professional fundraising fees, or other salaries and wages[1].

Community Impact

The Greater Owensboro Economic Development Corp contributes to the local quality of life by promoting economic growth and supporting the development of skilled workforce programs[4]. Partnerships with educational institutions and industry leaders enhance the region's economic viability[3].