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Newspaper
Mount Carmel Register
Location
Mount Carmel, Illinois, United States of America
Date
Feb 01, 2016
Page
2
Larry Hodgson outlines three years of Mount Carmel Area Economic Alliance work in four areas: Existing Business, Entrepreneurship, Industrial Recruiting, and Quality of Life. The group emphasizes steps toward a preferred economic future for Mount Carmel and Wabash County.
Within three months of the re energized Area Economic Alliance we participated in an Ameren backed regional labor study and made it available to existing businesses. By 2013 the AEA funded economist Michael Shuman to gauge leakage and found 75 percent of U S business types are absent in Wabash County and annual import leakage totals 508 million dollars. Programs Shift Ten and foreign trade aid were created to boost market reach and exports for local firms.
The Shift 10 program started in 2014 to encourage residents and businesses to shift 10 percent of purchases to county vendors. If successful, the county could add over 50 million dollars in sales, create 335 jobs, and lift the tax base by about 2 million dollars annually. Chamber of Commerce and Retail Merchants Association help fund the effort. AEA Foreign Trade Assistance supports the program. Two Mount Carmel companies, aided by AEA and the U.S. Commerce Department, are pursuing foreign markets with one just starting and the other active in over two markets.
Eighteen leaders from business education and government met in Mount Vernon Illinois to review the Midland Institute for Entrepreneurship CEO Program begun in Effingham in 2008. AEA notified 15 applicants for the 2016 17 CEO class and last year’s class raised nearly $14 000 at the CEO Trade Show. The 2015 16 class plans a trade show on April 25 2016 and looks to banner accomplishments for next year. Industrial recruitment focuses Mt Carmel Wabash County as a location for new and relocating businesses with energy agriculture and clay and ceramic feedstocks. The area celebrates winning one of 100 Enterprise Zones with ABA City of Mt Carmel and county cooperation.
RefreshMTC and AEA partnered to apply for a Grinnell Insurance grant, represented locally by Mike Harris. Finalists were posted on Facebook, and the project finished second, earning $1000. Harris Insurance added funds, six benches were purchased, and volunteers supplied tools to beautify Market Street. The effort, supported by hundreds of local voters, aims to enhance uptown business appeal.
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