Chico, like most cities in California, was hard hit by the recession. Golden Valley Bank estimates it could take another nine years to reach the economic levels of 2007!
The need for focused, concerted and collaborative effort to deliver direct services to businesses which would result in economic growth was answered through a unique collaborative of the Chico Chamber of Commerce, Downtown Chico Business Association (DCBA), 3CORE and Alliance for Workforce Development Inc. (AFWD), California State University, Chico (CSU Chico) and the City of Chico.
With a Memorandum of Understanding, Team Chico launched an aggressive, multiple phase initiative to outreach to businesses, deliver a comprehensive resource directory of services available to businesses, identify specific business needs and begin address needs and issues of key industry sectors.
Team Chico’s first year had incredible results – outreach to over 500 businesses, 10 expansions and three new locations, 1,315 job placements, four emerging “seed-funded project through a new Business Vitality Seed Fund, $2.35 in non-traditional financing of loans and grants, and an economic impact of $31.3 million to the local economy (see Annual Report). A spin-off benefit, seven other business-related organizations and the Young Professional Organization have joined the effort.
(Top Right Image: Team Chico winning the 2013 Economic Development Program "Award of Excellence" from the California Association for Local Economic Development).