Local Economic Development - A Cooperative Effort
Lake Geneva area residents should understand that economic development is not just attracting new business to Lake Geneva nor is it the efforts of just the Lake Geneva Economic Development Corporation (LGEDC).
Along with a goal of attracting new businesses LGEDC maintains constant efforts to assist the growth of current and new businesses. Statistics show over 70 percent of employment growth comes from business expansion in a community. One way to accomplish these goals is by providing education and counseling programs for business people and their employees through cooperation with local schools, Gateway Technical (GTC), University of Wisconsin – Whitewater (UW-W) and private sources. These are being coordinated by LGEDC on a regular basis here in Lake Geneva. Visit Lake Geneva and numerous local businesses have contributed to the success of these programs.
This committee has originated a new LGEDC web-site designed to not only sell the Lake Geneva Business Park but to show the total advantages of Lake Geneva as a place to live as well as conduct business. In addition the Committee is in the final stages of producing a series of videos, in cooperation with WCEDA, showing our young people and their parents the advantages of jobs in the Lake Geneva industrial sector. The committee is discussing future economic development marketing plans and programs as well as ways to bring the total community closer together for more and better planned growth.
Not to be ignored in these cooperative programs are the efforts of the City of Lake Geneva officials and staff. This can be highlighted by two current expansion projects – Plasti-Coil and Brunk Industries. Both are currently adding new space and employees, once their projects are complete.
In the early years of LGEDC the City officials were instrumental in assisting LGEDC get under way and financing the Lake Geneva Business Park. All these debts have been paid through land sales and LGEDC is financially independent. It is important to note that LGEDC is a separate not-for-profit corporation and not a division of the City of Lake Geneva. LGEDC does have two of 12 Board members appointed by the mayor in order to promote this cooperative effort.
It should also be noted that LGEDC has had, for a number of years, a loan program to support Lake Geneva business growth. There are restrictions on the use of the financing, but details are available by contacting Executive Director, Andy Dammeir, at a.dammeir@genevaonline.com. There are features of the program for retail, commercial and manufacturing projects.
The efforts to promote positive economic development are not limited to the above named organizations or projects. Future positive growth here in Lake Geneva will not take place without the continued cooperation of a total community. LGEDC is committed to continue as a center of these plans and efforts.