Invest in Economic Development
At Growth Dimensions, we are committed to providing the greatest impact and value with your contribution. We will continue to be transparent and diligent in our efforts to place our region in the best position possible for business expansion and economic growth.
Why Invest in Economic Development
Your contribution directly impacts Boone County's economic future and is critical to our continuing mission to promote Belvidere, Boone County and our region. Growth Dimensions continues to expand services to our business community through strategic partnerships, enhanced processes and access to to essential services and information.
Your Investment Makes Great Things Happen
2020, 2021 and 2022 have brought a greater focus on economic vitality across the nation. Our Investors have afforded Boone County the ability to face challenges head on and persevere in the face of adversity.
What follows is an overview of how Growth Dimensions Economic Development, Boone County and the region continue to move onward and upward.
Business Acquisition & Expansion
In 2020 and 2021, Growth Dimensions worked with 50 projects. These projects consisted of potential new businesses or businesses interested in increasing their footprint.
Additionally, 83 Enterprise Zone projects were submitted, creating more than $7 million in investments.
Job Market
While the unemployment rate is still higher than the national average, Boone County did see a noticeable drop from 16.0% in 2020 to 8.8% in 2021. We remain hopeful this percentage will continue to drop, as we continue initiatives to increase Illinois’ Competitive Advantage and focus on the need for Technology and Transformation.
Workforce
A growing business depends on their greatest asset, their workforce. It begins with the training and education that shapes current and future skills.
Rock Valley College’s Advanced Technology Center (ATC) is poised to be the regional hub of skilled trade education and training. Their $11 million investment in the ATC is the first physical presence RVC, or any higher education system, will have in Boone County, since 1979. Their programs will include CNC machining, welding, mechatronics, and industrial maintenance. More than 200 students are anticipated to start class when then doors open in January 2022.
Venture Program
In 2020, Growth Dimensions developed the Venture Program. This program was designed to provide resources and education opportunities to new & existing entrepreneurs. Partnering with local and regional organizations provided the opportunity to expand resources to include COMPASS, ACE, and the Innov8 & Cre8 Podcast.
In 2021, Growth Dimensions began promoting the Venture Program to more than just entrepreneurs. Venture shifted to a program that can also assist business leaders and non-profit professionals, as well as upskill business employees.
Ongoing Economic Development Initiatives
One of Growth Dimensions’ top goals is business attraction. Through strategic priorities and initiatives, we will:
- Market Boone County as a great place to Live, Work & Play.
- Collaborate with our investors and partners, to sustain economic development to enhance economic vitality by providing value-added benefits to further Boone County priorities.
- Engage with local, state and federal leaders, to support Illinois’ competitiveness to provide a robust incentive program to attract and retain businesses.
- Resolve to work towards better and efficient access to infrastructure, such as data, water, sewer, freight and more.
- Be a conduit for businesses to access leaders, resources and networks.
COVID-19 Awareness & Economic Relief
Growth Dimensions Economic Development united with the County and region to build Forward Boone County. This group communicates critical COVID-19 information to businesses and the community in a consistent, collaborative manner to develop solutions and rebuild our economy together.
Forward Boone County consists of community-based organizations, business organizations, education districts, region planning, municipalities, health providers, and the Boone County Health Department. Forward Boone partners volunteer 1,000+ hours in the first 12 months of the COVID pandemic reaching the U.S.
COVID-19 guidance, best practices and awareness were communicated to the community through social media platforms, forwardboone.org and 18 webinars and videos, receiving more than 3,000 views.
By promoting and assisting in Local CURE, Back to Business Grants, and Business Interruption Grants (BIG), Boone County received $3,254,696 in much-needed funding relief.
Thank You To Our Investors
As we approach 2023, we look forward to our continued relationship with our investors. Through your support, we are able to make great things happens. Thank you!
