DCEO Director Jack Lavin Highlights Work of the Greater Southside E-Center
CHICAGO - Gov. Rod R. Blagojevich’s top economic development official visited the Greater Southside Entrepreneurship Center (GSEC) at Chicago State University today to announce $200,000 in new funding for the e-center, which will help local entrepreneurs and small business owners and their promising ventures develop into successes in the marketplace.
“Entrepreneurs and small businesses are the cornerstone of the Illinois economy and critical to creating more good jobs, so it’s essential that we provide high-growth entrepreneurs with the resources they need to grow and flourish. I am excited to continue our collaboration with Chicago State University to cultivate a stronger entrepreneurial atmosphere in this very important area of the state. By investing in promising firms with great potential and giving them the resources they need to take their ventures to the next level, we’re not only fostering their individual success, but fueling more vigorous economic growth in the community,” Gov. Blagojevich said.
The GSEC acts as a regional hub that coordinates all small business development, entrepreneurship and technology training activity for Chicago’s South Side, and provides entrepreneurs with the tools they need to make their ventures successful. The GSEC is one of 17 entrepreneurship centers Gov. Blagojevich has opened. The entrepreneurship centers make up one vital component of the Illinois Entrepreneurship Network (IEN), a comprehensive network of resources designed to strengthen the state’s capacity to develop small businesses into market successes and help entrepreneurship act as a more dynamic engine of growth. Gov. Blagojevich launched the IEN Web site, www.ienconnect.com, which features a free business needs assessment and a referral within 24 hours for personalized, face-to-face assistance. Entrepreneurs can also call toll-free 1-800-252-2923.
“In order to realize the great potential of this area of the state, we must provide our young firms with high-growth potential with the resources they need to develop into economically viable and sustainable companies that will grow and create jobs in the community. This investment will help to develop a greater entrepreneurial climate in the South Side of Chicago,” said Senate President Emil Jones (D-Chicago). “I want to thank Gov. Blagojevich for his assistance in awarding this funding to the GSEC.”
“Gov. Blagojevich and I strongly believe that in order to grow jobs, we need to invest in the talents and ingenuity of small firms. The work of the Greater Southside Entrepreneurship Center will help to provide our entrepreneurs with the tools they need to turn their ideas into successful ventures,” State Senator Donne Trotter (D-Chicago) said.
“The Greater Southside Entrepreneurship Center will help to engage entrepreneurs and innovators in the community to meet their untapped potential, and I look forward to working together with Gov. Blagojevich to continue to make investments that will result in more jobs for this region of the state,” State Senator Edward Maloney (D-Chicago) said.
“Gov. Blagojevich has created an important network of resources to help get small businesses going and to take them to the next level. This funding allows us to continue investing in our local small businesses and entrepreneurship, both of which are tremendously important to growing our local economy. I thank Gov. Blagojevich for his support in this area,” State Representative Connie Howard (D-Chicago) said.
“As part of its mission, Chicago State work’s in partnership with local organizations and agencies to assist in the development of economically viable communities. The service provided by the Entrepreneurship Center supports this mission in a very tangible way, and I thank Gov. Blagojevich for his commitment to this partnership and in enhancing opportunities for the men and women in this community,” Chicago State University President Dr. Elnora D. Daniel said.
The funding provided to the GSEC will cover operational expenses at the e-center, including the physical facility, equipment acquisition, personnel costs and operations for a one-year period. The GSEC will build upon the groundwork laid by the Small Business Development Center (SBDC) at Chicago State University, which over the last five years has served more than 4,200 people, assisted in securing more than $20 million in loans and equity investment and provided more than 5,300 hours of counseling. The GSEC will offer a number of specialized resources for its clients, including $5,000 challenge grants awards to assist entrepreneurs or small businesses with obtaining professional services for comprehensive business plan assistance, evaluation of a proposed start-up or expansion or other accelerated support purposes.
Director Lavin highlighted a few of the companies who will continue to benefit from the e-center:
Goes Lithographing Company is a fourth generation family-owned printing company founded in 1879, which still operates in its original location. The owner, Charles (Chris) Goes, is in the matching monetary award application process with GSEC, as well as in process for the 504 loan program and the SBA working capital loan program. For more information on the company visit www.goesproducts.com.
Inner-City Underwriting Agency, Inc. is a ten year-old, rapidly growing comprehensive commercial and personal lines insurance company. The owner, Matt Cooper, is in the process of applying for a challenge grant at the GSEC and has taken advantage of the services offered through the SBDC. The company's Web site is www.inner-city.net.
“Gov. Blagojevich and I understand that small businesses and local entrepreneurs need critical access to capital, markets, networks and technology in order to develop into profitable enterprises that will create jobs in the community. The GSEC is working on a number of levels to stimulate growth in the South Side of Chicago, providing this key population with increased opportunities to grow their businesses and to foster entrepreneurship and innovation,” DCEO Director Jack Lavin said.
Gov. Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history. Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges. Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses. It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs. Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.