The Cumberland Area Economic Development Corporation this morning announced the creation of the Cumberland Valley Alliance, a membership-based program offering several perks.
For a fee ranging from $100 to more than $4,500 annually, businesses receive services that can include networking, seminars and legislative updates.
“Through the Alliance, CAEDC will be your one-stop shop for economic development information, including legislative updates, bill analyses, statewide economic development news, demographic and market analysis, workforce development, and new development projects throughout Cumberland Valley,” the agency said in a news release.
Jonathan Bowser, CEO of CAEDC, said the agency seeks “private sector investments” to replace public sector dollars.
In recent comments about the Cumberland Area Economic Development Corporation, Commissioner Jim Hertzler noted the county cut its contribution to the agency from $90,000 to $40,000 this year, with the expectation the agency would be “self supporting” in the future.
One hundred percent of the investment generated from the CVA will fund existing financing programs, the release states, in addition to funding business attraction efforts through direct marketing.
The CVA includes three levels of membership: Friends ($100-$1,499), Members ($1,500-$4,499) and Founders ($4,500 and up). With each level come additional services that range from greens fees at the CAEDC golf tournament to being an annual tourism conference sponsor.
“For every dollar invested, we have returned $127 in additional investment, which has equated to over $10 million in additional annual tax revenue to our local economy,” CAEDC said in the news release.
CAEDC will continue to work on behalf of all businesses in the county, Bowser said.
“With being a partner of the Alliance, it is a way businesses can greater support our efforts and through our efforts have a more direct impact on our local economy,” he said via email. “In addition, businesses that already support us financially will have a more seamless, packaged opportunity to sponsor CAEDC events such as our annual golf event and Highway to Growth seminars.”