Public and Private Investment in Economic Development Paying Dividends for Owensboro
The 2010-2011 EDC Annual Report shows that public and private investment supporting the work of the Greater Owensboro Economic Development Corporation is paying dividends for the Owensboro region.
Over the past two years the $650,000 has been invested by local government and $260,000 has been invested by private sources through the Investment 2020 program supporting the operating expenses of the professional economic development staff and growth strategy for the region. This financial support has lead to over $104 million in direct private business investment by firms supported by the EDC.
Every dollar spent in support of the EDC translates to nearly $50 spent in the community. In terms of public money, every public tax dollar used to support the EDC translates to an $83 return on investment in private business investment.