The twin cities' main economic development organization is close to completing its five-year strategic plan. Marty Vanags, head of the Economic Development Council of the Bloomington-Normal area, says it's likely the $3.5 million dollar recapitalization effort will meet or exceed its goal. The 2006 campaign was aimed at retention of business while Vanags says this year's effort is aimed at bringing new companies to town.
Vanags says the EDC has its sights set primarily on companies in one of five business sectors: agribusiness, education and training, logistics, information-techonology and finance-insurance-real estate.
Vanags says the most recent campaign in 2006 exceeded its target for jobs created or maintained and he's hopeful this one will too, although he says the first fruits of work currently being done may not be apparent for another year or two. 60% of the EDC funding comes from small businesses and corporations with the other 40% from the public sector including city and county government as well as colleges and universities.
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