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The Quincy Entrepreneurship Center at GREDF, in collaboration with several Quincy area organizations, is hosting an informational event for current and aspiring entrepreneurs on Saturday, August 9th. The 2nd Annual Entrepreneurship Expo will take place in the Quincy Mall Community Room from 9:30 a.m. – 1:30 p.m. The Expo is free and open to the public.

“We wanted to provide a one-stop learning experience for entrepreneurs at any stage of the process,” said Kimm Minnick, property manager for the Quincy Mall. “We worked with our partners to create an action-packed agenda that includes presentations and time for one-on-one interactions and specific questions.”

The day will begin with a Small Business Development Center presentation outlining the steps to starting a business – including the importance of a business plan and cash management.

At noon the Quincy Area Chamber of Commerce (QACC) will announce the winner of the 2014 Business Plan Competition.

Lunch will be provided by the Quincy Mall immediately following the QACC announcement. Participants will have an opportunity to network and ask questions during this time. Stations will be set up for specific topics in the areas of financing a small business, marketing and sales, legal and tax issues, and human resources.

According to Charles Bell, director of the Quincy Entrepreneurship Center, planning the event has been a group effort. “When we initiated the event last year we wanted to get a number of organizations involved so current and prospective small business owners would have access to a wide network of local resources in one place,” Bell said. “It was so well received we decided to improve the event and hold it a second year.”

The Entrepreneurial Expo is being coordinated by GREDF in collaboration with the Small Business Development Center, Quincy Mall, Quincy Area Chamber of Commerce, John Wood Community College, Quincy University, The District, Illinois WorkNet Center and the Quincy Business and Technology Center.

In addition to the presentations and small group discussions, packets of information will be available outlining where to go for further assistance, as well as information about local training opportunities and schedules of upcoming entrepreneurship events.

There is no cost to attend, and no RSVP is required. Questions may be directed to Charles Bell at GREDF – 217.223.4313 or charlesb@gredf.org, or any of the participating organizations.

Local Organizations Partnering to Host Entrepreneurship Event at Quincy Mall

Event will be held Saturday, August 10th at 9:30am in the Community Room

[share]Several Quincy area organizations are coming together to host an informational event for current and aspiring entrepreneurs on Saturday, August 10th. The meeting will take place in the Quincy Mall Community Room beginning at 9:30am. The event is free and open to the public.

“We wanted to provide a one-stop learning experience for entrepreneurs at any stage of the process,” said Kimm Minnick, property manager for the Quincy Mall. “We are working with our partners to create a dynamic agenda that includes presentations and time for specific questions.”

The day will begin with a Small Business Development Center presentation outlining the steps to starting a business – including the importance of a business plan and cash management. Lunch will be provided at noon and participants will have an opportunity to network and ask questions. Stations will be set-up during lunch for specific discussions in the areas of financing a small business, marketing and sales, legal and tax issues, and human resources.

According to Charles Bell, director of the Quincy Entrepreneurship Center, planning the event has been a group effort.

“We wanted to get a number of organizations involved so current and prospective small business owners would have access to a wide network of local resources in one place,” Bell said.

The event is being coordinated by GREDF in collaboration with the Small Business Development Center, Quincy Mall, Quincy Area Chamber of Commerce, John Wood Community College, Quincy University, Historic Quincy Business District and Quincy Business and Technology Center.

In addition to the presentations and small group discussions, packets of information will be available outlining where to go for further assistance, local opportunities for training, and schedules of upcoming entrepreneurship events.

There is no cost to attend, and no RSVP is required. Questions may be directed to Megan Backs at GREDF 217.223.4313 or meganb@gredf.org or any of the participating organizations.

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So you want to start a business…

[share] 2011 was another great year for the Quincy/Adams County, Illinois region. The following is the “Business Developments” section of the speech our 2010/2011 GREDF chair, Connie Schroeder, gave during our 2012 Annual Meeting on January 11, 2012.

Our job at GREDF is to tell our story, that is, the story of Quincy and Adams County, Illinois. We do this in letters, emails and phone calls, on our website and most importantly, through personal contact with current and prospective businesses and you, our stakeholders.

We’re continuously refining our message and we’re blessed to have a wealth of resources about which to boast: transportation infrastructure, skilled workforce, educational opportunities, arts and culture.

We find examples and success stories help our message become more real to our audience. So please allow us to tell our story to you and share some good news from 2011 as we embark on a new chapter in 2012.

2011 Business Developments in Quincy and Adams County, Illinois:

• Prince Agri Products, which you’ll remember built a 150,000 square foot, $18 million dollar facility in 2010, announced this past September the acquisition of a new product line called Animate. The company has added over 40 jobs to the Quincy-area economy during the past 2 years and currently employs over 100 people. They continue to recruit for head-of-household positions in manufacturing, laboratory, quality supply chain and I.T.

  

• Titan International purchased the former Huck Fixtures facility and plans to put part of its wheel production in the 100,000 square foot building this year. Titan reported record sales in the third quarter of 2011, up 79percent from the third quarter in 2010.
• Federal Express broke ground on a new $1.5 million dollar, 28,000 square foot facility located on six acres in the Wismann Ridge Business Park in August.
• The Spin Screed, the world’s lightest-weight roller screed which was invented and built in Quincy, was chosen by contractors to be used during a major remodel of the Boeing Manufacturing Plant in Everett, Washington. The plant is considered the largest in the world. Joe and Marlene Churchill, co-owners of Spin Screed, Inc., have seen their small business grow from its start 11 years ago to the point where the Spin Screed is now being used in major projects worldwide.
• U.S. Cooler is celebrating 25 years as a leading manufacturer of commercial walk-in freezers & coolers. During its history, the family-owned company has preserved a historic firehouse in downtown Quincy for its corporate headquarters and adapted green technology into its products. U.S. Cooler currently employs over 65 people in 7 States.

  

• Timewell Tile continues to grow in its Golden facility, the former home of the Methode Plant. The company’sentire A.D.I. Installation Division was recently moved to the Golden facility which led to the construction of a new 5,000 square foot machine shop building. The A.D.I. Division joins the Transportation Division and Fitting Fabrication Division in Golden, which was relocated from a Michigan Plant. A production line runs 24 hours a day seven days a week out of the facility. 81 employees are currently based out of the 95,000 square foot building.
• Word came in December that the decision to close 252 United States Postal Service mail processing facilities nationwide including the Quincy facility would be delayed until at least May of 2012. GREDF, City officials and Mayor Spring worked successfully with Illinois and Washington lawmakers, including Senator Dick Durbin, to save the facility back in 2010, but a U.S.P.S. deficit in 2011 has prompted the agency to again look at taking drastic measures. Closing the facility would eliminate next-day delivery within the region and 60 to 70 positions. GREDF continues to support efforts to keep the facility open.
• Harris Corporation won a 2011 Governor’s Sustainability Award for Continuous Improvement. They received the recognition for their ongoing commitment to environmental excellence through outstanding and innovative sustainability practices.
• Tim and Tamie Lung, owners of the Crawdad’s Classic brand of products out of Camp Point are poised for growth in 2012. The company has launched a national marketing campaign and hopes to eventually bring bottling operations to the Adams County area.
• An AT&T Cell Phone Outlet and Aspen Dental Office are now open at the corner of 52^nd and Broadway in front of Walmart. GREDF assisted Quattro Development with the project and we were pleased to receive a letter addressed to Jim Mentesti from the developer stating, “Without question, the experience we’ve had working with you, your staff, and the Quincy municipal officials is the best we’ve encountered.” AT&T Illinois President Paul La Schiazza came to the store opening on December 8^th.
• F&M Bank and Trust Company purchased the parcel east of Aspen Dental from Quattro Development. The Bank plans to start construction on a full service branch in 2012. GREDF assisted F&M in the selection of the site.
• T.F. Ehrhart Company is constructing a new building at 42^nd and Koch’s Lane in the East Quincy Development District. The company has been supplying heating and air conditioning equipment to contractors throughout Western Illinois for over 55 years.
• Good Samaritan Home continues to move forward on its $20.7 million dollar multi-phase renovation. When completed all types of senior housing will be available, from independent cottages to full-time nursing care units.
• Activity in the Schneidman Industrial Park continued in 2011 with the addition of Tillitt Collision Repair and Moore’s Floors which expanded into a 15,000 square foot building in order to enhance its commercial flooring operations.
• Preliminary site work has been completed at the future home of the U.S. Army Reserves Center Training Facility. The facility will be located at 24^th and Weiss Lane in the Northwood Business Park and site plans include a training building, vehicle maintenance shop and storage building.

  

• Farmers Bank of Liberty plans to establish a branch at 4134 Broadway in Quincy after purchasing the former restaurant building.
• J.M. Huber just completed an 18,000 square foot addition to its facilities in the South Quincy Development District. The expansion will house a production line for Huber’s food and pharmaceutical-grade of calcium carbonate. The product is currently being made in their California facility, but the economics made it more attractive to build in Quincy than expand in California.
• City officials are close to approving the site plan for a 50-unit, two-story, 64,000 square foot senior apartments complex at 48^th and State.
• Bank of Springfield announced plans to move its Quincy branch from 18^th and Broadway to 1111 Maine in downtown Quincy. The branch could open as early as late spring.
• Speaking of downtown Quincy, our partnership with the Historic Quincy Business District and executive director Travis Brown is as strong as ever. We are pleased to share that downtown Quincy’s occupancy rate is currently at 91 percent. Some of the 2011developments that contributed to this tremendous number include:

  

  • The opening of the $27.2 million dollar Salvation Army Ray and Joan Kroc Corps Community Center in September.
  • The opening of First Bankers Trust Company’s 30,000 square foot, $5 million dollar banking facility at 12^th and Broadway in May.
  • The opening of the 48-unit, $9.2 million dollar Franklin Square Apartments complex at 3^rd and State which company officials tell us quickly filled and remains at full occupancy.
  • The opening of Cape Air’s ticket office at 727 Hampshire which is located in a block of beautifully rehabilitated and newly-leased buildings thanks to local developers, Austin Properties.
  • And the opening of a number of high-end restaurants including The Maine Course, ONE Restaurant and Bar and Talayna’s.

We’re excited to see work nearing completion at 8^th and Jersey thanks to Ameren Illinois’ site remediation program. As the $30 million dollar clean-up is completed we look forward to working with our H.Q.B.D. partners to find the right developer and project for the site.

2011 also saw the $5.5 million dollar renovation of the Quincy Public Library and Awerkamp Machine Company’s completion of a new warehouse at 716 Vermont in the downtown.

GREDF’s Entrepreneurship Specialist, Charles Bell had another busy year in 2011. He assisted over 70 businesses with startup and expansion planning, site location and financing. Charles helped Adams County businesses and entrepreneurs navigate a variety of financial incentive programs available to them, including the Rural Adams Development Corporation, Adams County Revolving Loan Fund, GREDF Central Business District Revolving Loan Fund, Adams Electric Revolving Loan Fund and Two Rivers Revolving Loan Fund. Specific examples of assistance include the expansion of Alliance Industrial Corporation on Highway 57 and the construction of a soybean treatment and warehousing facility owned by Chuck and Mary Beckman near Paloma.

[share] Great River Economic Development Foundation has been awarded a grant to help provide technical assistance to rural microentrepreneurs. Agriculture Secretary Tom Vilsack announced Wednesday the selection of 35 rural microdevelopment organizations for loans and grants to support rural business development, create jobs and strengthen local communities.

By awarding the $40,000 grant to GREDF, the USDA is recognizing the assistance that GREDF has been providing small rural businesses throughout the west-central Illinois region.

About two years ago the State of Illinois discontinued funding for Illinois Entrepreneurship Centers. GREDF has managed the Entrepreneurship Center under the leadership of Charles Bell for 7 years and continued to fund its operation out of cash reserves while looking for other funding because the Center’s work and results proved too important to the region to lose. This USDA grant will allow the Entrepreneurship Center at GREDF to continue to provide technical assistance to small businesses throughout the four-county region of Adams, Brown, Pike and Schuyler.

In addition to funding operation of the Entrepreneurship Center, GREDF has provided funding and staff support to oversee the City of Quincy’s Energy Efficiency Program and provided administrative assistance to the Mid America Port Commission to seek funding for development of an intermodal port on the Mississippi River and a Foreign Trade Zone in the tri-state area.

“A strong rural America and a strong agricultural industry go hand in hand,” said Vilsack in the release. “These investments will bring increased economic opportunity to rural residents and communities. They will help organizations expand job and economic opportunities in rural communities across the nation.”

Funding for each project is contingent upon the recipient meeting the terms of the loan and grant agreement.

Types of technical assistance that this funding will help GREDF provide includes:

• Feasibility Analysis
• Business Plan Development
• Financing analysis and planning
• Sales & Marketing
• Location assistance
• Market analysis
• International Trade assistance
• Investor contacts
• Mentor matchmaking

One of the strengths GREDF brings is its regional partnerships with other economic development organizations, lenders and revolving loan funds, which assists the business in comparing options and assists the lender in reducing risk.

Examples of businesses that have been assisted in the past include:

• Austin Group, Inc., Spinscreed, Inc. and Fletcher Daycare all of Quincy
• Midwest Crop Insurance Services of Camp Point
• Timewell Drainage Systems of Timewell and Golden
• Nancy’s Private Practice of Mt. Sterling
• Houser Meats, Deb & Di’s and Bollinger Onken of Rushville
• Bale Bandit of Pittsfield
• JIREH of Barry
• Big River Fish of Pearl

Bale Bandit successfully moved manufacturing operations from Kansas to Pike County. Spinscreed, Inc. and Big River Fish received assistance in export marketing. Assistance has also been provided to establish new small business incubators in Barry and Mt. Sterling.

“We’re pleased that the USDA recognizes the value of the service we provide to the region’s businesses,” said Charles Bell, Director of the Entrepreneurship Center at GREDF. “USDA has been a strong partner in regional development not only in assisting the Entrepreneurship Center but also with its Revolving Loan Fund, Business & Industry Loan Program and housing assistance.”

By Jim Foley, Director – Turner Center Operations
Illinois SBDC International Trade Center

[share] Selecting the right foreign partner in a new country is a critical marketing decision. The right partner can lead to new sales and profits. The wrong partner may mean significant lost sales, poor branding and ultimately withdrawal from the market. For most companies, their first foreign partner is their agent or distributor. As that partner will be doing most of the marketing activities in the country, getting the right partner is crucial.

A firm must begin by detailing what it wants from the foreign partner. How much of the sales and marketing burden will be pushed on to the partner? If the exporter is planning to open a distribution facility, then much of the logistics issues will be handled by the exporter rather than the partner. Similarly, if the exporter is planning to open an overseas sales/marketing office, there are considerably less expectations from the partner.

Following are some of the issues to consider when choosing a partner. These will help identify the potential strengths or weaknesses of each partner as well as the opportunities and threats they face in the country and industry in which they operate. These same strengths and weaknesses need to fit with the strengths and weaknesses of the exporter, and the opportunities and threats need to match with the international goals of the exporter. This may be difficult to achieve, which is why the selection of a foreign partner is most commonly selecting the ‘best’ partner among a list of considerations rather then finding the ‘ideal’ partner.

Product Lines Currently Represented: One of the best indicators will be the product lines (brands) the potential partner already represents. This reveals a great deal about their experience, strengths and focus. There may be some lines that would be competitive with the manufacturer’s product and preclude any potential for a representation agreement. This is particularly important for exclusive representation agreements. Manufacturers want to avoid ‘line collectors’ – companies that try to represent as many product lines as possible in hopes that ultimately one or two will be huge successes.

Industry Focus and Technical Knowledge: Most agents and distributors focus on particular industries. Though their focus may not be a perfect match, it can be used as a guide. If particular technical knowledge is required, such capabilities will need to be identified.

Years of Experience: Manufacturers are sometimes attracted to relatively new agents and distributors that may be more aggressive given their relative need to grow and succeed versus other competitors in the market. On the other hand, a mature, experienced partner may have the needed contacts to ensure greater success for the exporter.

Sales Structure: This is a critical indicator. It describes how the foreign company sells and to whom. For example, does the distributor only sell to retail locations, but never to the end-user? Does the distributor sell to large accounts?

Current Customers: If research has determined that particular customers are crucial, such as government agencies, some clarification by the company needs to be made to ensure they will be contacted.

Customer Support: If training, parts distribution or product repairs will be necessary, determine what customer support functions the company is able to provide.

Office Locations: The location of the main office and any other offices will indicate the geographical sales focus of the company. It will help determine what part of the territory it can effectively cover.  

The Illinois SBDC International Trade Center can assist in finding suitable foreign partners. We subscribe to databases that list foreign companies by industry and sales activities. The State of Illinois Office of Trade and Investment offers direct assistance in finding and vetting foreign partners, as does the US DOC Peoria Export Assistance Center within the U.S. Commercial Service. Please don’t hesitate to contact us for your next partner search. For more information, call (309) 677-3075 or email illinoissbdcitc@bradley.edu.

[share]Small Biz Leadership Luncheon

The Entrepreneurship Task Force of the Tri-State Development Summit will be holding a luncheon for small businesses and entrepreneurs on Wednesday, May 25th at Tiramisu Restaurant in Quincy. The event will be held from 11:30am – 1:00pm and will cost $15 per person which includes lunch.

The event will be the first in a quarterly series to rotate among Illinois, Iowa and Missouri. The objectives of the events are to provide entrepreneurs and small business owners with local economic information, business-related tips and advice and networking opportunities with other business owners and entrepreneurs. 

Speakers will vary from session to session depending on current events and current business topics.  The events will offer opportunities for entrepreneurs and small business owners to network with each other with the hope that they can collaborate, share business ideas and help each other with shared opportunities, concerns and issues.

For the first session, speakers will include Jim Mentesti, President of Great River Economic Development Foundation and Eric Thomas, President of ETC ComputerLand. Mr. Mentesti will speak to the group about the current economic environment of our region. He will also share updates on current significant projects impacting businesses in the tri-state region. Mr. Thomas will give a Social Media for Business presentation. The presentation will give businesses the basics of what social media is and how they should or could be using it to increase their visibility.

Registration will be $15 per person which also includes lunch.  Pre-registration is required by May 20th. The attached Registration Form should be sent to Megan Backs at GREDF at meganb@gredf.org. 

2011 signifies the 15th year for the Tri-State Development Summit. In the 15 years since the inception; the Summit Region has adopted numerous Task Forces and achieved many successes in each of those task force areas. The Summit Region now comprises 35 counties in NE Missouri, SE Iowa and Western Illinois.

Steering committee members have also announced that the 9th Tri-State Development Summit will take place October 5, 2011 in Quincy, Ill. The mission of the Tri-State Summit is to bring together leaders in Southeast Iowa, Northeast Missouri and Western Illinois to define common issues; to develop an on-going dialogue to effectively address those issues; and to improve the quality of life of the entire tri-state region through economic development activities.

Small Biz Leadership Luncheon Registration Form