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Fundraising 101: A Guide to Transforming Great Ideas into Reality
A case study of Onward NRV’s Fundraising Campaign.
You can have a million great ideas, but great ideas are just ideas until you find ways to fund them. Onward NRV, the economic development organization for Virginia’s New River Valley Region, exemplifies how great ideas can be put into action when funds are secured. Onward NRV set a fundraising goal to support the implementation of a new five-year strategic plan that positions the region as a competitive business location and a desirable place to live, work, and play. Through successful fundraising, Onward NRV has enhanced the competitiveness of their region and transformed their great ideas into actions. Other EDOs struggling to implement bright ideas can learn from Onward NRV’s best practices.
Using Housing Data to Attract Business and Talent
Housing is one of the hottest, most talked about topics in economic development. The reason? In order to attract new businesses to your community you need to have a talented workforce to draw from to fill those jobs, and that workforce needs a place to live.
One of the biggest assets in Waynesboro is East Main Street/Hwy 250, which connects downtown Waynesboro with the Blue Ridge Parkway, Shenandoah National Park, and Appalachian Trail, three nationally-known and visited outdoor destinations. Waynesboro was selected as the 2019 Creative Give Back winner because connecting downtown to these assets, via what we called the Gateway Parkway, will be a pivot point for the local economy.
Salaries and bonuses are up and more people got raises, according to the recently released 2019 North Carolina Economic Development Salary Survey. Ensuring your organization has a competitive pay and benefits structure is critical to recruiting and retaining talented people. With the new survey results and comparisons to national data, you can be confident you have the latest information about the profession. Creative Economic Development Consulting partnered with the NCEDA Research Committee to administer and publish the survey. We make the report available as one of our paying-it-forward projects.
The Blacksburg Partnership won the 2018 Creative Give Back because they are passionately working to engage young people in business and the wider community. The program needed a refresh if it was going to be a driver in Blacksburg’s talent attraction, development, and retention efforts. The action plan recommends continuing to focus on networking, education and professional development, and volunteering, with ways to shake up the program and keep it fresh. New to the Blacksburg Partnership are recommendations to increase business and community awareness around how to engage young professionals and working collaboratively on issues that are important to young professionals. With leader-champions, quality programming, and awareness, the YP Program will help Blacksburg become a sticky.
Safety for Economic Development Professionals
The enthusiasm behind the City of Graham’s application is what made them the 2017 Creative Give Back winner. Graham asked for our help in developing a framework for the implementation and operation of a Community Development/Revolving Loan Fund and programs to support entrepreneurship initiatives. One goal of our Creative Give Back program is to work on projects that can be replicated. What we learned in the Graham project has applicability to many small towns across North Carolina. Read the full report to get ideas for your community.
Economic development organizations track a wide range of metrics from leads to BRE visits to business start-ups and beyond. However, does the time invested in measuring specific data points pay off in future success? An article in Community Development authored by Dr. Jonathan Morgan, Associate Professor of Public Administration and Government at the University of North Carolina Chapel Hill, and Crystal Morphis, CEO of Creative Economic Development Consulting, reviewed success factors in BRE programs.
The North Carolina Economic Development Association (NCEDA) and Creative Economic Development Consulting released the first state-wide salary and compensation survey for the economic development community in North Carolina. It was designed to sync with the International Economic Development Council’s Salary Survey so that comparisons could be made between North Carolina and national data. The data is useful on a personal level to economic developers in their careers and is also vital for economic development managers charged with recruiting or retaining talent in the industry.
Creative Give Back Report: Connecting Military Spouses and Former Military to Employment in Wayne County, NC
Does your community have a strong military presence? Do you have talented military spouses, dependents, and veterans seeking local employment but struggling to find an existing business with the right employment opportunities? The 2016 Creative Give Back Project developed a concise action plan to raise awareness in the business community about the benefits of hiring former military and military spouses.