Not-for-Profits Are Reshaping the Economic and Cultural Landscape

How the EDC is utilizing its resources to improve the retail climate and the arts in central Illinois

Nonprofits are intricately interlinked with other bodies in central Illinois. Partnerships between nonprofits and other organizations strengthen the community, whether through cultural enrichment, service work, advocacy or for-profit development. Nonprofits can be nimble and focused in ways that government bodies and for-profit entities cannot.

As a nonprofit entity, the Economic Development Council for Central Illinois (EDC) works to serve as the primary facilitator of focused economic growth in the region. Our staff works to recruit, expand and retain existing firms, and we rely on our eleven strategy groups to execute a great deal of the planning and visionary work. Each strategy group, comprised of volunteer members from all parts of the community, is focused on a particular industry that simultaneously relies on our region’s comparative advantages and demonstrates growth potential based on pervasive economic trends. One such strategy group, the Retail Strategy Group, is working on two initiatives that have the potential to massively improve the viability and vibrancy of the Peoria area. Though the initiatives are quite different superficially, both the proposed artist relocation program and the regional retail study are vast in scope and have the potential to impact our economic and cultural landscape.

An artist relocation program in the works could serve to vastly improve an already-robust Peoria-area arts community. According to a study by Drs. Goitein and Highfill of Bradley University, arts in the area generate more than $39.58 million annually. An artist relocation program could bolster our existing creative community and draw a bevy of new, energetic artists to our region. Specifically, the City of Peoria and a number of nonprofits are collaborating to use financial incentives and aggressive marketing to reshape the Warehouse District adjacent to downtown.

Imagine a revitalized Warehouse District, burgeoning with artists, professionals and tourists, reshaping a dilapidated section of the city into a clean, safe, prosperous destination. Through a relatively small public investment, Peoria can incentivize private investment and harness private work to repair a blighted area and enhance cultural activity in Peoria. The idea is to utilize the investment and labor of artists to reshape the Warehouse District, giving the artists a superb deal on property ownership and a big reason to bring artistic production and private investment dollars to Peoria.

Quite simply, an individual artist is offered a host of financial incentives to purchase and renovate a building or section of a warehouse, after which that individual completes the work and establishes a living space, studio and gallery. Once a number of artists have relocated, an enclave of culture and creativity is established and self-sustained through property ownership and the unique environment.

The artists benefit, but Peoria prospers as well, especially from a retail perspective. New cafes, shops, galleries, boutiques and nightlife establishments will arise to cater to the artists and their clientele, and Peoria will improve further as a tourist destination. Additionally, there will be positive spillover effects, as the adjacent downtown will flourish, sales tax revenues will increase, crime will decrease and investment in the city will grow.

The model for economic development through artist recruitment is Paducah, Kentucky, and those involved in our program are eager to learn from Paducah’s successful enterprise. Though relatively small in size, Paducah has attracted dozens of artists through its program, revitalizing a downtrodden section of the city in the process. Paducah provided national marketing for its program and offered extremely aggressive incentives to draw artists to its community. For instance, the city provided up to $2,500 for architectural services and fees, it gave 100% financing for the purchase and rehabilitation of a structure, and it sold houses to artists for little more than a song. While these incentives initially appear to border on absurdity, the program proved a success: for every dollar of public money involved in the revitalization process, 11 private dollars were thrown into the mix. As a result tourism has skyrocketed, crime has fallen substantially and the aesthetic environment of the community has grown exponentially.