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Kane County committee approves third-year payment to Greater Chicagoland Economic Partnership; plans to shift membership to county EDC
Summary
The Jobs Committee approved a $54,700 payment to continue Kane County’s participation in the Greater Chicagoland Economic Partnership (GSEP), funded this year with ARPA dollars, with county staff saying the newly formed Kane County Economic Development Corporation is expected to take the membership in future years.
The Kane County Jobs Committee approved a resolution authorizing the county’s continuing participation in the Greater Chicagoland Economic Partnership, including a third annual payment of $54,700.
The payment for this year will be funded from American Rescue Plan Act (ARPA) funds, committee members were told. County staff and members said the county intends for the newly formed Kane County Economic Development Corporation (EDC) to assume the membership fee in future years.
Chris Tote, speaking for the committee, said the partnership’s data services and site-inquiry support for manufacturers and businesses “has been an invaluable resource.” John Guirley, a county staff member, said World Business Chicago provides back-office services for the Greater Chicagoland partnership and that the county is awaiting a proposal from World Business Chicago that could change future funding obligations. Guirley said the plan is for the Kane County EDC to “take ownership” of the annual membership fee once the corporation is operational.
Committee members asked about oversight and funding. Committee chair Alan said the county will hold two seats on the EDC board — the county board chair and the jobs committee chair — and that the jobs committee will have a monthly line item on its budget to review the EDC’s work. Committee members confirmed the EDC is currently organized as an Illinois not-for-profit corporation and that staff plan to apply to the Internal Revenue Service for 501(c)(6) designation (the trade-association classification). The committee was told the EDC’s board will have seven members and that participation funding will come primarily from business membership and investors, not ongoing county general-fund support.
The committee called the roll after discussion; committee members verbally recorded support and the chair moved on to staff updates, indicating the resolution passed.
The county’s continued GSEP participation was described as matching a jobs-committee goal to support the county’s role in the regional economic partnership.
