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News

2019 Annual Report

EDC Business & Community Partners Shares 2019 Economic Impact Report

Published Thursday, January 9, 2020

EDC Business & Community Partners Shares
2019 Economic Impact Report

Accomplishments include SBA Award, Growth of Incubator Businesses

 

2019 was a year of accomplishment for the EDC Business & Community Partners of St. Charles County. The organization, which is focused on business incubation, financing and counseling, business retention and recruitment, and community initiatives, recently shared its 2019 Economic Impact Report. Some highlights include:

  • Funded 28 small business loans with total project investment of over $39 million while retaining or creating 299 jobs

  • Provided $37.4 million in bond funding for two key projects: the 50,000-square-foot Harris House treatment and recovery center in St. Charles and for Wentzville Bend, an 80-acre, mixed used development in Wentzville

  • Counseled 142 new business clients who had over $9 million in capital funding

  • Graduated seven businesses from the incubator and welcomed eight new companies

  • Celebrated with EDC Incubator Graduate Jeremy Buchheit of Synergy Medical, who was named Eastern Missouri’s Small Business Person of the Year 2019 by U.S. Small Business Administration

While funding business start-ups and growth is a key portion of the EDC’s mission, another focus is quality of life initiatives. MO Cowbell, an annual run that offers distances from 5k to full marathon distance, had 2,615 first-time registrants, the highest in the race’s nine-year history. The economic impact of the MO Cowbell for St. Charles County in 2019 totaled $385,000.
 
Working with more than 40 community leaders, the EDC also helped launch Community Strong in 2019 as the community’s first Health Advisory Board. Some of the group’s initial accomplishments included hosting a Workplace Wellness Summit, collaborating on the first county-wide Day of Play and creating action teams to combat issues like negative health outcomes, diabetes and access to care.
 

“From funding and counseling growing small businesses, helping foster job creation and retention, tackling important community issues like health and wellness and promoting the region through events like MO Cowbell, 2019 was a strong year of service to the community by the EDC Business & Community Partners,” said the organization’s incoming CEO & President Scott J. Drachnik. “As the EDC heads into 2020 --- our 30th year of serving businesses, communities and individuals --- we believe the best is yet to come!”