FOR IMMEDIATE RELEASE:
November 2, 2004
Raleigh Chamber of Commerce Beats Goal to Fund
Aggressive, Five-Year Economic Development Campaign
Raleigh, NC - Raleigh Chamber and Wake County Economic Development Program officials recently announced they had raised $9.15 million to fund "edge3 - The Power to Lead," Raleigh and Wake County's economic development campaign over the next five years. This figure beat the campaign's goal of $8.5 million.
Bill Atkinson, president of WakeMed, and Jim Roberson, chairman of the board of the Research Triangle Regional Partnership, were co-chairs for the campaign.
"One of the most important things we accomplished during this campaign was furthering the concept that local and regional economic development interests are not in conflict, but are at most times in harmony," says Atkinson. "We can, if we think creatively and plan carefully, identify strategies that serve both regional and local interests."
The Raleigh Chamber launched the fundraising phase of "edge3 - The Power to Lead" in May, a compelling five-year economic development program designed to propel the City of Raleigh, Wake County and the Research Triangle Region to new heights as a top-tier location for new investment.
The campaign will provide $1.3 million to the Research Triangle Regional Partnership (RTRP) to help implement the regional economic development strategy, "Staying on Top: Winning the Job Wars of the Future." It is a five-year, $5 million plan to create 100,000 jobs in the region and boost employment in all 13 counties.
"Wake County and its business community have moved our regional strategy a giant step forward with this financial contribution," said RTRP President and CEO Charles A. Hayes. "Our region is literally in a fight for its economic future. With these financial resources and the unprecedented alignment of businesses and organizations around our regional vision and strategy, we're well equipped to win."
Over the next few years, edge3 will undertake five initiatives:
- The regional competitiveness strategy targeting the eight technology clusters identified as priority growth opportunities by the RTRP and the creation of 100,000 net new jobs in the 13-county region (50,000 in Wake County).
- Expanded public-private partnerships to recruit headquarters to Raleigh and expand recruitment in key clusters throughout Wake County.
- Improved business attraction (through cluster-focused precision marketing) to attract new jobs and investment to Wake County.
- A cluster-focused existing business initiative to promote the growth and expansion of existing industries in Wake County in partnership with local, regional and state economic development organizations.
- A regional community development initiative to promote local investments considered important in attracting and retaining the skills and talent necessary to for our key clusters to thrive.
If all of the goals of the campaign are met, the area will benefit by:
- 100,000 new jobs regionally (50,000 in Wake County).
- A 25 percent increase in city, county, and regional effective buying income.
- A 25 percent increase in county, regional commercial and industrial tax base.
CONTACT:
Demming Bass
Vice President of Communications,
Greater Raleigh Chamber of Commerce
919-664-7080; Mobile: 919-412-9074
dbass@the-chamber.org
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