Success Story: Economic Development Coalition of Southwest Indiana

magnifying glass icon  The Situation: 

Since 2007, the Economic Development Coalition of Southwest Indiana (EDCSI) has provided economic development services to Gibson, Posey, Vanderburgh, and Warrick counties. In its role as the regional economic development agency, the EDCSI assists site selectors and business owners with site location, business expansion, and business retention needs in the four-county region. The EDCSI also serves as the regional planning organization for the Evansville metropolitan area, housing the most successful grant procurement team in Indiana. In mid-2011, the EDCSI commissioned Garner Economics to independently assess the region's strengths, weaknesses, opportunities, and threats while developing a regional strategic plan.

cross-hairs icon  Funding Goals: 

Based on recommendations from the Garner Economics report, the primary goal was to explore avenues to generate additional funding for the EDCSI. A secondary goal of the campaign was to actively increase community engagement and position the organization for future funding initiatives.

lightbulb icon  The Challenges: 

The Garner Economics report, A Blueprint for Success: A Master Plan for Economic Redevelopment, concluded that Southwest Indiana needed to focus on several fundamental issues of economic transition. Additionally, the region needed to implement important internal and external preparative steps before it could realize its fullest potential as a dynamic, regional economic center.

checkmark icon  Our Approach: 

RDG was initially retained to conduct a feasibility study and subsequently manage a hybrid funding campaign. This hybrid approach utilized RDG's proven campaign management processes alongside a loaned executive from Old National Bank. This unique structure allowed the EDCSI to leverage the loaned executive's existing relationships while working within the parameters of RDG's methodology. The execution involved a series of executive briefing-style meetings and targeted individual solicitation calls.

chart icon  The Results: 

  • The hybrid campaign strategy was readily accepted in the marketplace and proved to be a resounding success.
  • RDG assisted the EDCSI in generating $2.6 million from the private sector for the 2013 - 2017 period.
  • The campaign successfully built the EDCSI's capacity from a funding standpoint while allowing the organization to gain new relationships in the business community.
  • The EDCSI increased community engagement by securing 42 new investors.
  • Coupled with a robust investor relations program, the addition of these new investors has already positioned the EDCSI for future funding initiatives.