Report Illustrates the Impact PCDC Has on the Local Economy
24 Mar 2021
Life is easier, more secure, and more fulfilling in Phelps County Nebraska and the efforts of the Phelps County Development Corporation (PCDC) are a significant part of that equation. This non-governmental organization consisting of private investors works with community partners to create a vibrant and growing local economy through recruiting and training employees, creating quality housing, supporting growth and expansion of current businesses, and attracting new businesses.
Highlights from the Economic Impact Study of PCDC activities from 2016 through 2020 include:
- $73.4 million – Amount of private investment stimulated by direct PCDC assistance between 2016 and 2020.
- $284.4 million – Amount of total private investment in the market when BD of Holdredge ($200+ million) and Phelps Memorial Health Center (PMHC) projects are included
- $329.3 million – Total output increase as a result of all private investment.
- $62 million – Total labor income attributable to construction of all new private projects.
- $87.1 million – Total value added of all projects from direct, indirect, or induced effects.
- $9.9 million – Value of housing developments stimulated by PCDC’s investments.
- $1.3 million – Total downtown private investment stimulated by PCDC’s GO! DREAM program.
- $204,700 – Infused into the local economy by PCDC’s Economic Recovery programs in 2020.
In addition to this economic growth has been a growth in population due to PCDC programs. First and foremost, 309 new Phelps County residents were attracted by the GO! HOME programs since 2017. In 2020, the GO! HOME Down Payment Assistance Grants alone helped relocate 31 new residents to Phelps County. Also available are Down Payment Assistance Reimbursement Grant to Employer and Public Employee Down Payment Assistance Grant To Employer. Forty-nine new living units have been created with help from PCDC since 2016.
PCDC has had a substantial impact on employment. Between 2016-2020, 189 new local jobs were added. High-Demand Jobs Scholarships totaling $176,500 were awarded to 69 students in seven years. DREAM grants totaling $230,500 have spurred $1.3 million in local projects.
Behind the $204,700 infused into the local economy to aid economic recovery from the COVID-19 pandemic is the story of the strong, caring Phelps County community. Through the Magic Multiplier Gift Card Recovery Program, the community turned out to provide local businesses with needed cash flow through the purchase of gift cards that were amplified in value by PCDC. Fifteen Digital Development Grants were awarded to help local businesses establish or improve their online presence.
PCDC is striving to be a leader in economic development circles with its sights set on the future. They plan to make Iron Horse Industrial Park shovel-ready, attract new businesses and manufacturers, fund grants for new franchises, and establish a retail recruitment partnership.
They aim to improve the quality of life in Phelps County even more by aiding the completion of the Crew Subdivision, creating more workforce housing, building an attractive event center, recruiting more restaurants and retailers, and creating thriving downtowns.
They vow to continue to assist current businesses with workforce recruitment, training, and High-Demand Jobs Scholarships, as well as with facade improvements and DREAM grants.
“Show up, every day, with the right attitude and we’ll get stuff done,” said Ron Tillery, PCDC Executive Director.
Phelps County Economic Development Corporation
Whether you need assistance navigating relief funds or want to relocate or expand your business to Phelps County, PCDC has the tools and skills to help. PCDC can assist with project advocacy including permitting, timely utilities, and financial assistance. Contact PCDC at (308) 995-4148 or firstname.lastname@example.org today.
View the PCDC 2021 Virtual Annual Meeting here.