SBDC claims $67M in '12 capital activity

When it comes to job creation, all businesses have skin in the game. That’s the message of the Springfield Business Development Corp., the nonprofit business development arm of the Springfield Area Chamber of Commerce.

On Feb. 14, the SBDC held its annual meeting at Hickory Hills Country Club for its more than 100 public and private investors to unveil 2012 progress.

Last year, chamber staff managed 120 cases of direct business assistance, visited 103 businesses, coordinated 27 active projects and announced 10 business expansions worth $67 million. Job-creation efforts brought 371 new positions to the area from companies such as Kraft Foods Inc., Sunrise Communications and Paul Mueller Co., netting $11.2 million in new payroll and creating $67.2 million in capital investment.

While the job growth was positive, it was less impressive than the strides made the year before. In 2011, SBDC had 12 job announcements, added 1,167 new jobs representing $40 million in new payroll and a capital investment of $73.6 million.

Four of SBDC’s top-level investors each contributed at least $50,000 in cash or services last year to bring jobs to Springfield: Mercy Springfield Communities, CoxHealth, the city of Springfield and City Utilities. In addition, four entities – Bass Pro Shops, BKD LLP, Great Southern Bank and Greene County – donated more than $20,000 to the cause. In all, 107 partners contributed to the SBDC efforts, which included hosting 12 events such as the ninth annual Economic Outlook Conference and attending eight targeted industry trade shows such as those held by the Industrial Asset Management Council and the Retail Industry Leaders Association.

With investor support, Springfield chamber spokeswoman Maggie Bridgeman said SBDC had a 2012 budgeted operating income of $619,900. The organization garnered $2.75 million in support from investors through its five-year Partnership for Prosperity II campaign, which ended in 2011.

Ann Marie Baker, market president for UMB Bank in Springfield, was named the 2013 SBDC president at the Valentine’s Day meeting, succeeding Shaun Burke, Guaranty Bank president and CEO.[[In-content Ad]]