The Greater Beloit Economic Development Corporation

The Greater Beloit Economic Development Corporation (GBEDC) is a non-profit organization dedicated to fostering economic growth and development in the Greater Beloit region. Established in April 2005, its mission is to promote investment and job creation, enhancing the quality of life, educational attainment, housing availability, and overall prosperity for residents in the area[1][2].

Mission and Activities

GBEDC focuses on facilitating partnerships between businesses, the workforce, and local residents to support economic development. The organization encourages businesses to relocate, expand, or start new ventures in the Greater Beloit area. It provides resources and information essential for site selectors, developers, and families considering relocation[1][2].

GBEDC offers access to key economic data and features available properties, such as those in the Gateway Business Park, to attract and support businesses looking to grow within the community[2]. The organization's efforts aim to capitalize on the region's strategic location on the Illinois-Wisconsin border, which offers excellent access to major markets via Interstate Highways 39, 90, and 43[4].

Leadership and Governance

As of recent data, key personnel include Drew Pennington as President and Chief Executive Officer, Regina Dunkin as Chair, and Mike Pokel as Secretary and Treasurer[3]. Past leadership roles have been held by Jennifer Hall, who previously served as President and CEO[3].

Financial Overview

GBEDC's revenue is derived from various sources, including program services, investment income, and net rental income. In the fiscal year ending 2023, the organization reported total revenues of $159,854, with a significant portion coming from program services[3]. The corporation does not distribute grants and operates primarily through its economic development initiatives[5].

Impact and Recognition

In 2022, GBEDC launched a new website and logo designed by the Golden Shovel Agency to enhance its online presence and engage with a broader audience, including site selectors and businesses[2]. This initiative reflects the organization's commitment to economic development and regional growth.

GBEDC's work aligns with broader efforts to strengthen local economies and improve community living standards, contributing to a more vibrant regional business environment.