About Economic Growth Corporation
Economic Growth Corporation (GROWTH) is a 501(c) 3 not-for-profit, community-based development organization dedicated to enhancing the overall image and economic vitality of rural and underserved communities. GROWTH is regarded as a national leader in developing innovative housing opportunities and commercial developments by facilitating community partnerships. Our community-driven efforts consistently provide housing that is affordable, create and retain jobs through our various business initiatives, support and revitalize neighborhoods, and strengthen the community fabric in ways that sustains and promotes long-term viable economic success.
As a minority-controlled, mission-driven organization, GROWTH identifies its redevelopment plan and works to raise capital behind the scenes until it can close and begin construction. In any given time, this takes an average of 3 years. In these unprecedented times post-COVID with rising construction costs, labor shortages, rising interest rates, GROWTH continues to persevere and is proud to have started construction in August 2023, an activity that will continue over the next three years within the campus.
GROWTH’s redevelopment of Shimer Square advances many strategies set forth with in local, regional, and state planning objectives by means of supporting and nurturing small businesses through entrepreneur and startup incubators, developing the state’s workforce through construction related activity and business opportunities, and investing to catalyze growth by investing more than $60 million of redevelopment efforts within the Mt. Carroll, IL community. Its revitalization efforts will also result in a newly created tax base that will further provide benefits to community.
As a minority-controlled, mission-driven organization, GROWTH identifies its redevelopment plan and works to raise capital behind the scenes until it can close and begin construction. In any given time, this takes an average of 3 years. In these unprecedented times post-COVID with rising construction costs, labor shortages, rising interest rates, GROWTH continues to persevere and is proud to have started construction in August 2023, an activity that will continue over the next three years within the campus.
GROWTH’s redevelopment of Shimer Square advances many strategies set forth with in local, regional, and state planning objectives by means of supporting and nurturing small businesses through entrepreneur and startup incubators, developing the state’s workforce through construction related activity and business opportunities, and investing to catalyze growth by investing more than $60 million of redevelopment efforts within the Mt. Carroll, IL community. Its revitalization efforts will also result in a newly created tax base that will further provide benefits to community.
