BY BILLY BRUCE
The Valdosta Daily Times
December 08, 2007 08:40 pm
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VALDOSTA — Pledges from local businesses and individuals to the Valdosta-Lowndes County Chamber of Commerce’s “Impact 2012” campaign have surpassed it’s goal of raising $1.75 million in five years.
As of Thursday (Dec. 6), 126 separate investors had pledged $2,357,500, and more pledges are coming in daily, according to Myrna Ballard, president and CEO of the chamber.
The chamber kicked off the ambitious campaign in August, and sent out teams of volunteers to preach the campaign’s gospel to local businesses—its gospel being a business action plan for spending the money on several efforts to boost the local economy.
The chamber had hoped to collect $350,000 per year for five years to invest in various economic expansion efforts within the community. At the current balance of pledges, the chamber could spend $471,500 per year for five years, thanks to the great support being granted by the business community.
Investors were given the option of when they want to pay their annual pledge; some have already been paid and others will be paid throughout 2008, Ballard said.
Asked whether the organizers ever thought they’d surpass their goal in just three and a half months, Nick Valenti, chairman of the chamber’s board of directors, acknowledged initial butterflies tinged with faith in the unseen.
“Sure, there was some apprehension,” Valenti said. “After all, our chamber has never conducted a major fundraising campaign before. On the other hand, I’m not surprised that this community caught the vision. This is about the power of organizing, pooling resources and working together for common interests—the power of collaboration.”
With the campaign’s ambitious goals to grow the economy from within, such a vision could quickly become contagious.
If successful, Impact 2012 would have a total annual impact of $95 million by creating 1,350 jobs and $39 million in additional payroll, and more than $70 million in new residential and commercial construction over the first five years, according to a study conducted by Dr. Cynthia Tori, associate professor of economics at Valdosta State University and economic forecaster for The South Georgia Institute.
The campaign’s impact would also generate an additional $8.9 million in retail business, $6.2 million in financial institutions, $5.9 million in household and business support services, $5.7 million in real estate and construction, $4.4 million in government, $4.4 million in professional services and $4 million in automotive business, Tori’s study concluded.
Pledges have come from large businesses to smaller ones with as few as five employees, Ballard said.
“Our shareholders include retail stores, professional services, manufacturers and local government entities,” she said. “In addition, several individuals have made personal commitments to Impact 2012. Investments have ranged from less than $1,000 to six-figure investments. Every investor is equally important to Impact 2012.”
The community caught the vision, in part, because the campaign’s action plan was developed through 11 separate meetings with 72 top business and community leaders in which the entire community was represented, Valenti said.
“One of the chamber’s strengths is our determination to bring everyone to the table to make these important decisions that affect our community’s future,” Valenti said. “The result is a plan that will have measurable, meaningful results in the coming five years. It has very broad support across the community. The volunteers and the investors know the initiatives of Impact 2012 are going to make a difference in our community’s future, and they trust the chamber to lead the effort.”
And trust is a key factor when a private organization not governed by public records laws endeavors to seek money from willing contributors for promised goals that include creation of jobs for graduates from Valdosta Technical College and Valdosta State University, creating more jobs in information technology, environmental technology, medical services and support and much more.
Another key goal of Impact 2012 is to study whether the existence of two separate school boards for Valdosta and Lowndes County schools has an impact on economic development efforts and business development land use patterns in Valdosta and Lowndes.
“I want to be very clear,” Valenti said. “The plan does not call for the consolidation of the school systems. That is a multi-faceted issue, much of which is outside of the chamber’s purview. Our interest is from a business perspective, that is, in any economic development impact there might be.”
Chamber officials reiterated their promise to keep contributors informed of where the money goes.
A quarterly newsletter will be distributed to all of the shareholders. Every local news organization is a shareholder. Annual shareholder meetings will provide each investor the opportunity to receive a detailed progress report and to ask questions about the campaign and their investments, Ballard said.
“We have very specific, measurable goals for each initiative, and we will be anxious to share information with the entire community,” Ballard said. “In addition, the chamber board has appointed the Impact 2012 oversight committee, including top shareholders in the program, to ensure that every penny invested is spent as promised. These committee members will serve in an oversight capacity for the five-year duration of the program.”
The chamber board will approve the Impact 2012 budget at its December meeting. Several initiatives will be put into motion in January. The oversight committee will determine the frequency of progress reports, but they’ll at least be released quarterly if not monthly, Ballard said.
Despite surpassing its original goal, Valenti said the chamber will continue to solicit pledges from the community throughout the five years of the program.
“We want every business and every person who wants to be included in Impact 2012 to have an opportunity to do so,” he said.
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