Market Van Buren: Creating An Environment for Economic Growth
You may hear the term Economic Development thrown around a lot. But, what does it mean?
Economic Development is the process of maintaining a stable economy while creating an environment for future growth.
All successful economies are built on the symbiotic relationships between: Community, Talent, and Business.
- An attractive community has the amenities and infrastructure that promote and support a high-quality of life for its residents. This helps to retain talent.
- The talent, in turn, possess the knowledge, skills and abilities to support and grow a vibrant business community.
- The businesses provide jobs and income for the local talent to have a high quality life; and a tax base for the local community.
The Kinexus Group subsidiary, Market Van Buren, is working to create an environment for economic growth within Van Buren County.
The original journey began in 2014, when Kinexus partnered with the county to market the revolving loan fund. In 2016, the county expanded the partnership with Kinexus to provide economic development services.
To date, Kinexus has overseen 15 business expansion and growth projects, issued six loans with $530K of capital issued, retained 200 jobs and created 111. The total economic impact in Van Buren County has amounted to $25M.
To continue growth in the economic development sphere, public and private sector leaders have now banded together to form a dedicated economic development organization, Market Van Buren.
Market Van Buren will focus on developing county industrial sites, augmenting the current revolving loan fund, countywide high-speed internet connectivity, developing a Business Connect program, and establishing a county land bank.