After serving as chair of the Columbia River Economic Development Council in 2007 and a board member five years before that, I have spent some time thinking about what I have learned.
During my tenure, our board elected to change the CREDC’s financial model from a membership model to an investor-based model, which is used by nearly all other economic development councils across the nation.
Because member companies now make a five-year pledge instead of a one-year renewable membership, the CREDC can stabilize staffing and become much more effective and focused.
For the past decade, when the CREDC’s annual membership renewal came across my desk, I considered, and then reconsidered, whether I wanted to continue my membership. It was more than a “What have they done for me lately?” thought process. It was a careful consideration of whether other local organizations needed a portion of my company’s limited financial resources.
As a stakeholder, I knew the CREDC’s work plan needed to evolve and expand to better meet the needs of our clients and members. A great deal of time and internal debate was spent ensuring the new work plan “got it right,” and that it efficiently leveraged the financial resources we solicited from our members.
During this process I insisted (some would say I demanded) that local businesses be better served by the CREDC. In the past, I believe too much focus was placed on recruitment of new businesses instead of helping our existing businesses create new jobs.
The goals of the new five-year work plan, which is being implemented now, are to facilitate the addition of 5,000 new jobs with an average wage of $55,000, to expand and retain 80 traded-sector businesses and bring in capital investments of $250 million.
During my year as chair, I observed first-hand that when a company needed assistance, the CREDC was able to marshal political support and help connect it with local resources.
The council also serves a valuable role as policy consultants to the public sector, advising them on issues like job creation. Members volunteer to staff these policy committees and bring their expertise and unique knowledge.
Simply stated, the CREDC makes a difference.
Is it perfect? Absolutely not. Are leaders willing to listen to ideas for improvement, to grow, to evolve their work plan to meet the needs of clients and members? You bet they are. Bart Phillips’ leadership and an excellent board of directors guarantee that.
So when it came time to decide where to put our money, my company increased its financial support by nearly nine times.
Am I nervous about the economy? Somewhat. Am I concerned about a five-year pledge commitment? Yes. But I planned my contributions for the fall of each year to help with cash flow planning typical of my industry.
The name of CREDC’s capital campaign is Forward Thinking, Direct Action.
I fervently believe that now, more than ever before, is the time for business owners to invest in our economic future. Given the uncertainty that exists in our economy, job creation, job retention and job recruitment are critical. When you receive a call from the CREDC, demonstrate forward thinking and support at the highest possible level.
Ron Frederiksen is president of RSV Construction Services Inc. and past chair of the Columbia River Economic Development Council board of directors.
