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2006 Letter to the Community The year 2006 was filled with economic development activities and significant accomplishments as Itasca Economic Development Corporation (IEDC) focused time and energy on fulfilling the organization’s mission of helping create quality jobs. In its 25th year of existence, the legal name of the organization was changed from Itasca Development Corporation to Itasca Economic Development Corporation in order to provide a better indication of what the organization does. This 2006 annual report describes IEDC’s key activities and accomplishments, including those of eight Action Teams supported by IEDC. Following publication of the 2005 Community Report, IEDC facilitated meetings with the contributing partners and other interested community members who helped draft the vision for a healthy Itasca area as outlined in the report. The purpose of these meetings was to encourage our partners to set specific goals in each of six aspects of a healthy community and share work plans to achieve these goals. On our part, the IEDC board set two specific target goals to help achieve the desired outcome relating to the financial well-being of Itasca area residents. The goals are:
IEDC board and staff, with assistance from Jim Krile of the Blandin Foundation and IEDC’s Mike Andrews, then developed a strategic plan to achieve these goals. Upon approval of major strategies, staff completed detailed action plans for 2007. This was an ambitious, but necessary, task to focus limited resources on activities that will improve the local economy. Our local economy continued to be challenged in 2006 as the 40 largest companies, or companies with the greatest potential to gain or lose employees experienced a net loss of 112 jobs since December of 2005. IEDC actively supported major Itasca area projects in 2006 including, UPM Blandin, Minnesota Steel, Mesaba Energy and Minnesota Power. Each of these proposed major projects have the potential of significantly improving the local economy. Because of the controversy surrounding the project, the organization took a public position in support of the Mesaba Energy Project provided all environmental requirements are met. IEDC sponsored three forums in 2006. An Education Forum in May was co-sponsored with the Grand Rapids Area Chamber of Commerce and the Itasca Area School Collaborative. A Workforce Development Forum co-sponsored with the Chamber in October was the culmination of three days of workforce development meetings held in Grand Rapids featuring representatives from the Arlington, Texas and U.S. Chambers of Commerce. A third forum on Wireless Communications was held in November and resulted in the formation of a new action team. All of our Organization’s successes and good work would not have happened without the volunteer and financial support of local community members. As you read through this report, and later walk through our community, be sure to acknowledge with thanks those who have helped make Itasca Economic Development Corporation vital to the economic development of the area. Very truly yours,
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