A Letter to Investors

A Message from the GFMEDC Chair and President/CEO

2023 was another stellar year for the GFMEDC and our region. Focusing on our core mission of assisting primary-sector companies, we supported 18 companies with expansion and relocation projects in 2023 and throughout our service territory. As we closed out a five-year run of our work, we are proud to share that we supported 127 projects, whose companies invested nearly $1 billion, and through these efforts produced $5.2 billion of economic activity that benefited every company in every industry sector.

Following the development of our Strategic Playbook in 2022, a thoughtful effort was taken in 2023 to restructure the entire organization, including the Board of Directors. The result is a board half the previous size (17 versus 33+) and one with a plurality of primary sector business leaders working with public sector and local “main street” private-sector members to drive the organizations’ mission. We look forward to the impact of these changes in 2024 and beyond. In addition to modifying the board structure, we continue to prioritize strategic engagement with our investors and partners; therefore, we have developed an Advisory Board consisting of our largest investors, and a set of Working Groups focused on specific topics important to the GFMEDC’s mission.

2023 was a year of firsts in several important ways. In addition to the organizational changes noted, we led the region’s first comprehensive workforce recruitment campaign. With an initial focus of helping our companies recruit critically needed positions in manufacturing and healthcare, we have developed a website, strategic messaging, social media engagement with millions of prospects in targeted markets, and a brand identity video that tells the authentic story of living in our region. Look further in this annual report to see for yourself.

As we look back on 2023, we are proud of our many accomplishments and are just as excited about the opportunity to work with the FMWF Chamber and other key partners on developing and implementing our market’s first regional comprehensive plan and funding campaign.

Finally, we want to thank our investors, board and staff for providing the resources, leadership and day-to-day focus that is so important to being a central organization in our region’s success. Our accomplishments can be a badge of pride for all involved and can spur us forward to address the many opportunities we are so fortunate to have.

Marshal Albright, GFMEDC Chair, Cass County Electric Cooperative

Joe Raso, President & CEO, GFMEDC