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EDP scraps fundraising campaign

October 16, 2008|CHARLIE COX

The Danville/Boyle County Economic Development Partnership has scrapped plans for a major fundraising campaign in light of the current economy.

EDP had planned to hire a fundraising firm to conduct an eight- to 10-month investment campaign targeted at private-sector businesses. It hoped to raise $3 million over five years to use toward economic development.

But John Caywood, the group's vice chairman and chairman of its private investment subcommittee, said a lot has happened economically in the past few weeks to make the group reconsider an involved campaign at this time.

"The overall thinking among the three of us (in the sub-commitee) ... is that now is probably not the time," said Caywood, a Danville businessman.

EDP Chairman Greg Caudill concurred. "Given the current state of the economy and the other campaigns going on right now, it would be dicey for us to go out there with such lofty goals," he said.

EDP had heard presentations from three potential campaign firms in recent months.

Education process

Though the fundraising effort has been put on hold, Caywood said it would behoove the partnership to begin preparing the community for when the campaign does commence.

"We'd like to begin an education process," he said.

Caudill said many people don't understand what the EDP is or what an important role it has.

He noted other communities whose residents are invested financially and educationally in economic development have "gotten farther down the road than we have."

Caudill said just because EDP isn't going on a shiny blitz of a campaign right now doesn't mean the effort to raise funds is on hold.

"The fact that we're not going to do a full campaign does not mean we're not going to continue to raise money. There are folks out there willing to contribute," Caudill said.

The effort will continue on a couple of fronts, Caudill said, targeting both businesses and average citizens who want to feel like they're a part of the partnership.

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