Fundraising for Economic Development

Registration information: https://peda.wildapricot.org/event-2167794

Economic development organizations (EDOs) are funded through a variety of avenues ranging from public support to private sector dollars and everything in between. The amount of funding derived from each of these sources can vary widely between organizations. This web seminar will focus on the pursuit of private sector funding and its impact on organizations’ competitiveness in the economic development marketplace.

The limiting factor in how much an economic development organization can accomplish is almost always money. Few have all the dollars they need, which means they cannot hire enough staff, do enough marketing, or help enough businesses. By helping these front-line economic developers increase their budgets, they can do what’s necessary to retain and grow their existing businesses, while also attracting new jobs and capital investment to town. It’s a win-win.

Somewhat unexpectedly, many EDOs do not systematically approach local businesses in their communities for financial support, despite the fact these organizations are the only ones in town that can demonstrate the direct correlation that exists between their efforts and local businesses’ bottom lines. That gives them “asking rights” and they can use those rights to involve private investors, increasing their annual budgets – sometimes significantly – and positive economic impact. This web seminar, led by a professional nonprofit fundraiser and leaders from within the Pennsylvania economic development community, will introduce participants to best practices in conducting economic development fundraising and share lessons learned.